Frasers Property Limited (SGX:TQ5) agreed to acquire 1A and 1C Homebush Bay Drive from Dexus Industria REIT (ASX:DXI) on November 10, 2022. The sale will realise gross proceeds of $160.5 million. Proceeds will be utilised to repay debt, which will strengthen the balance sheet, reducing pro-forma gearing by approximately 7 percentage points and increasing pro-forma interest rate hedging by circa 20 percentage points.

The deal is expected to close at the end of November 2022. Adam Woodward of Colliers brokered the deal.