Dexus · ASX:DXS
Dexus — DEXUS Property Group — Investor Day (October 2014)
75 slides from Dexus's investor day presentation, Oct 21, 2014
Slide 1: 2014 Investor Day presentation (ASX release)
DEXUS Property Group (ASX: DXS) ASX release 21 October 2014 2014 Investor Day presentation For personal use only DEXUS Property Group (DEXUS) provides the presentation and tour booklet that will be presented today at its inaugural Investor Day event. A webcast of the presentation will commence at 10
Slide 2: DEXUS Property Group 2014 Investor Day
DEXUS PROPERTY GROUP 2014 INVESTOR DAY For personal use only OCTOBER 2014
Slide 3: Agenda
DEXUS PROPERTY GROUP INVESTOR DAY 21 OCTOBER 2014 AGENDA 9.45am for 10.00am start Meet at Level 25, Australia Square For personal use only 264 George Street, Sydney 10.00am – 11.30am DEXUS presentation – Session 1 11.30am – 11.45am Q&A panel and morning tea break 11.45am – 1.15pm DEXUS presentation
Slide 4: $18 billion assets under management
$18 billion For personal use only $ 11.9bn $2.5bn $3.6bn OFFICE INDUSTRIAL RETAIL 147 >4,000 4.2m sqm PROPERTIES TENANTS TOTAL NLA DEXUS PROPERTY GROUP – 2014 Investor Day 2
Slide 5: Leveraging our capabilities: run of the day
DEXUS PROPERTY GROUP 2014 INVESTOR DAY – 21 OCTOBER 2014 LEVERAGING OUR CAPABILITIES For personal use only DEXUS Funds Management Limited ABN 24 060 920 783 DEXUS AFSL Property 238163 Group 2014 as responsible Investor entity Day Property Group for DEXUS Slide 1 RUN OF THE DAY SESSION 1 SPEAKERS 10.
Slide 6: Overview – Earnings composition
OVERVIEW – Focus on delivery of strategy For personal use only DEXUS Property Group 2014 Investor Day Slide 3 OVERVIEW – Earnings composition FUNDS MANAGEMENT PROPERTY PORTFOLIO & PROPERTY SERVICES TRADING Maximising performance Driving performance and Delivering trading profits FY15 DRIVERS from th
Slide 7: Overview – Earnings composition in detail
OVERVIEW – Earnings composition in detail FUNDS MANAGEMENT & PROPERTY SERVICES TRADING Funds Management & Property Services revenues Since 2010, DEXUS has had a trading strategy have increased from additional capital partners and included trading profits in FFO and expanded business For personal
Slide 8: Overview – Distribution growth
OVERVIEW – Distribution growth FY14 distribution per security grew by 4.3% FY15 distribution per security guidance of 6.79 cents represents growth of 8.5% Strong platform with levers for future distribution growth For personal use only Distribution payout: target 100% of free cash flow Distr
Slide 9: Quarterly update – to September 2014
QUARTERLY UPDATE – TO 30 SEPTEMBER 2014 For personal use only L to R: 30 The Bond, Hickson Road, Sydney, 1 Bligh Street, Sydney, NSW and Woodside Plaza, St Georges Terrace, Perth, WA DEXUS Property Group 2014 Investor Day Slide 9 QUARTERLY UPDATE – Continued momentum in office leasing enquiry Key of
Slide 10: Quarterly update – Activity across CPA properties
QUARTERLY UPDATE – Activity across CPA properties CPA properties have been managed by DEXUS since April 2014 385 Bourke Street, Melbourne All properties successfully transitioned Further repositioning opportunities identified For personal use only QV Building, Melbourne 56 Pitt Street, Sydney
Slide 11: Case study: Demonstrating leasing capability
QUARTERLY UPDATE – Case study: Demonstrating leasing capability CASE STUDY - 1 Farrer Place, Sydney DEXUS APPROACH Faced with State Government vacating 20,000sqm at Governor Macquarie Tower in December 2014 and For personal use only major tenant expiries in Governor Phillip Tower Leveraged stron
Slide 12: Quarterly update – Key messages
QUARTERLY UPDATE – Key messages Momentum in office leasing enquiry continuing for quality product Concentrated focus on reducing incentives and securing effective deals For personal use only De-risking of forward office lease expiries on track Industrial demand focused on facilities aligned
Slide 13: Development – Contribution to DEXUS's earnings
TITLE PAGE (TREBUCHET MS (HEADING) 20 BOLD DEVELOPMENT For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 17 Slide 17 DEVELOPMENT – Contribution to DEXUS’s earnings FUNDS MANAGEMENT PROPERTY PORTFOLIO & PROPERTY SERVICES TRADING Maximising performance Driving p
Slide 14: Development – Enhancing portfolio quality and returns
DEVELOPMENT – Enhancing portfolio quality and returns Delivered core office product with attractive metrics A leading developer of quality industrial product in core markets Woodside Plaza, Perth 2004 30 The Bond, Sydney providing strong providing strong returns of 11.9% over returns of 10.9% over 2
Slide 15: Development – Martin Place, Sydney
DEVELOPMENT – 5 Martin Place, Sydney Practical completion due mid 2015 For personal use only Target 10yr IRR >10% 42% of office space pre-committed DEXUS ownership 25% DEXUS Property Group 2014 Investor Day Slide 21 DEVELOPMENT – 5 Martin Place, Sydney DEXUS APPROACH Acquired a 50% interest1 in Ap
Slide 16: Development – Queen Street, Brisbane
DEVELOPMENT – 480 Queen Street, Brisbane DEXUS APPROACH Acquired in April 2013 as a fund-through development1 on good pricing metrics Accessed quality product in a market with limited For personal use only new premium offerings in the medium term Building a high calibre tenancy profile that wi
Slide 17: Development – Kings Square, Perth
DEVELOPMENT – Kings Square, Perth 55% of space pre-committed For personal use only DEXUS ownership 50% Practical completion due mid 2015 Target 10yr IRR circa 10% DEXUS Property Group 2014 Investor Day Slide 25 DEVELOPMENT – Kings Square, Perth DEXUS APPROACH Acquired KS1, KS2, KS3 in May 2013 as
Slide 18: Quarry and Quarrywest at Greystanes
DEVELOPMENT – Quarry and Quarrywest at Greystanes For personal use only Quarry at Greystanes Quarrywest at Greystanes DEXUS Property Group 2014 Investor Day Slide 27 DEVELOPMENT – Quarry and Quarrywest at Greystanes DEXUS APPROACH Acquired Quarry at Greystanes in 2007 Quarrywest at Greystanes Pa
Slide 19: Strategic masterplanning across O&I portfolio
DEVELOPMENT – Strategic masterplanning across O&I portfolio DEXUS develops dynamic asset plans to respond to evolving precincts Sydney CBD masterplanning Sydney industrial masterplanning For personal use only DEXUS Property Group 2014 Investor Day Slide 29 DEVELOPMENT – City Retail DEXUS APPROACH
Slide 20: Sydney CBD city retail precinct masterplanning
DEVELOPMENT – Sydney CBD city retail precinct masterplanning Sydney CBD Gateway development masterplan For personal use only Gateway and Grosvenor Place Circular Quay, Sydney DEXUS Property Group 2014 Investor Day Slide 31 DEVELOPMENT – Gateway retail development: Alfred Street DEXUS Property Group
Slide 21: Gateway retail development: food court
DEVELOPMENT – Gateway retail development: food court For personal use only DEXUS Property Group 2014 Investor Day Slide 33 DEVELOPMENT – Gateway retail development: Jesse Street gardens DEXUS Property Group 2014 Investor Day Slide 34 19 DEXUS PROPERTY GROUP – 2014 Investor Day
Slide 22: Gateway retail development: Loftus Street entry
DEVELOPMENT – Gateway retail development: Loftus Street entry For personal use only DEXUS Property Group 2014 Investor Day Slide 35 DEVELOPMENT – Grosvenor Place: fly-through video DEXUS Property Group 2014 Investor Day Slide 36 DEXUS PROPERTY GROUP – 2014 Investor Day 20
Slide 23: Development – Key messages
DEVELOPMENT – Key messages An integrated function across the Group platform designed to improve portfolio quality and enhance investment returns An established development pipeline across the DEXUS portfolio that is substantially de-risked For personal use only A diverse team with broad capabi
Slide 24: Trading – Types of trading opportunities
TRADING – Types of trading opportunities ‘Trading’ is the activity of developing/repositioning assets with a view to selling for profit TYPE OF Repositioning/ Change of use TRADING Development For personal use only OPPORTUNITY value-add (resi/mixed-use/retail) Transfer to trading Acquire, Acquire,
Slide 25: Trading – Building entrepreneurial mindset
TRADING – Building entrepreneurial mindset and DNA across the Group 50 Carrington played an integral part in growing the entrepreneurial mindset across the Group — Established foundations and capabilities in leasing, development, asset management and For personal use only transactions — The tasks
Slide 26: Trading – Case study: Change of use, Rosebery
TRADING – Case study: Change of use - Rosebery NSW1 DEXUS APPROACH DEXUS conducted packaging activities — Transfer to trading trust (DXO) For personal use only — Negotiations with Council — DEXUS negotiated improved floor space ratio and heights controls — Completed preliminary feasibility using A
Slide 27: Preliminary concept scheme: Flinders Street, Melbourne
TRADING – Preliminary concept scheme: 32 Flinders Street, Melbourne Proposing two buildings — Tower — Low rise For personal use only 549 apartments 56 levels Indicative delivery program DEXUS Property Group 2014 Investor Day Slide 45 TRADING – Preliminary concept scheme: 32 Flinders Street, Me
Slide 28: Trading – Key messages
TRADING – Key messages Contracted FY15 and FY16 trading profits 94-106 Lenore Drive, Erskine Park NSW Future trading opportunities to consist of — Identified properties in existing portfolio For personal use only (four identified near-term) — New acquisitions specifically for trading Likely to
Slide 29: DEXUS Research – Office indicators point to improving demand
TITLE DEXUSPAGE (TREBUCHET MS (HEADING) 20 BOLD RESEARCH For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 49 Slide 49 DEXUS RESEARCH – Office indicators point to improving demand Net absorption by market ‘000sqm 200 150 100 50 0 -50 -100 -150 Sep-04 Sep-05 Se
Slide 30: DEXUS Research – Role of research
DEXUS RESEARCH – Role of research of Research at DEXUS Strategy For personal use only Transactions & Development Management Reporting DEXUS Property Group 2014 Investor Day Slide 51 DEXUS RESEARCH – Involvement in a transaction: Radius Drive, Larapinta, QLD Source: Google Earth. DEXUS Property Group
Slide 31: Research – Transformation of the Sydney CBD market
DEXUS RESEARCH – Case study: Transformation of the Sydney CBD market Research tracks infrastructure projects and amenity, developments, withdrawals and lease expiries to identify target areas for investment and inform leasing strategy Infrastructure projects New developments Stock withdrawals For
Slide 32: Research – Market Leasing Database and key messages
DEXUS RESEARCH – Delivering better business outcomes: Market Leasing Database DEXUS’s Market Leasing Database covers key office markets and tracks tenants expiring in the future — Informs DEXUS leasing strategy and For personal use only how the team negotiates with tenants — Enhances tenant lead g
Slide 33: Transactions – Market context
TITLE PAGE (TREBUCHET MS (HEADING) 20 BOLD TRANSACTIONS For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 57 Slide 57 TRANSACTIONS – Market context Strong demand Buyers becoming Recent Transaction High level of for assets with increasingly transactions volumes
Slide 34: Transactions – Approach and process
TRANSACTIONS – Approach and process 1 Origination Research lead Opportunity lead Proprietary research - target sectors, Relationships, situations requiring scale, sub-markets, asset characteristics etc. speed, or certainty Asset classes Investment strategy For personal use only 2 Focus and Strategy
Slide 35: Transactions – Leveraging capabilities
TRANSACTIONS – Leveraging capabilities to access a range of transactions For personal use only 2012 2012 2013 2013 2014 NOVEMBER NOVEMBER FEBRUARY MAY APRIL CORE VALUE-ADD CLOSED- FUND- M&A PRODUCT REPOSITIONING END FUND THROUGHS 225 George Street, 50 Carrington Street, Sydney (25%) 480 Queen Street
Slide 36: Transactions – Assisting third party funds
TRANSACTIONS – Assisting third party funds & capital partners to grow DEXUS has — Satisfied third party investment objectives across sectors — Enabled informed decisions on asset selection and transactional execution — Leveraged strong relationships to deliver on transactional outcomes For persona
Slide 37: Transactions – Key messages
TRANSACTIONS – Key messages Highly competitive market for acquisitions Strong transaction capability embedded into the business Significant amount of capital invested early in the cycle (DEXUS and its clients) For personal use only No pressure to put further capital to work – focus is on hig
Slide 38: Third party funds management – Overview
THIRD PARTY FUNDS MANAGEMENT – Overview Significant growth of third party funds platform Growing investor/fund base DEXUS Industrial $bn Partner 10 DEXUS Office <$0.1bn Partner DWPF $1.6bn $5.3bn 8 >50% Australian 48 For personal use only growth through 6 Industrial Partner new partnerships, investo
Slide 39: Third party funds management – Growth in third party equity
THIRD PARTY FUNDS MANAGEMENT – Growth in third party equity Attracted over $4.5bn of third party equity since 2010 — DWPF attracted $2.7 billion of capital since 2010 from domestic and offshore investors — DEXUS Industrial Partnership established in FY14 and targeting $1bn gross assets For persona
Slide 40: Third party funds management – FY14 acquisitions
THIRD PARTY FUNDS MANAGEMENT – FY14 acquisitions Acquisitions on behalf $480m of acquisitions secured for DWPF of third party clients Beenleigh Marketplace, Deepwater Plaza, Woy Woy1 Sturt Mall, Wagga Wagga1 $3.4bn Beenleigh $88.4m $98.5m $61.2m (21 office properties) Cap rate 7.50% off-market takeo
Slide 41: Third party funds management – What's next?
THIRD PARTY FUNDS MANAGEMENT – What’s next? Further develop our $8.9bn third party funds business — Grow relationships with like-minded partners — Develop new products for our diverse client base For personal use only Continue to leverage DEXUS integrated platform — Drive portfolio performance b
Slide 42: Retail – Role of DEXUS Retail
RETAIL – Role of DEXUS Retail in relation to strategy For personal use only ROLE OF RETAIL Having the best CBD Having significant retail Being a high performing Promoting practices to retail offering to support scale to effectively and leading specialist mitigate the risk Premium and A grade execute
Slide 43: Retail – Diverse retail specialist
RETAIL – DEXUS is a diverse retail specialist Property type by book value Super Regional 15% Major Regional For personal use only 8% Sub $3.6bn1 Regional 54% 15 properties Regional 23% Geographical weighting by book value SA 8% Vic 15% Qld 39% $3.6bn1 15 properties NSW 38% 1. Excludes City Retail. D
Slide 44: Retail – Progressing the development pipeline
RETAIL – Progressing the development pipeline UNDERWAY NEAR-TERM PIPELINE For personal use only Westfield Miranda, Sydney Willows Shopping Centre, Townsville Circa 20,000sqm retail extension Circa 7,000sqm retail extension approx $230m cost (DWPF 50%) approx $70m cost (DWPF 100%) 2013–2016 2015–2016
Slide 45: Property Services – Introduction
TITLE PROPERTY PAGESERVICES (TREBUCHET MS (HEADING) 20 BOLD For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 81 Slide 81 PROPERTY SERVICES – Introduction DEXUS adopts an active approach to property services which optimises investment returns through operati
Slide 46: Property Services – Integrated platform
PROPERTY SERVICES – DEXUS’s integrated property services platform DEXUS portfolio management structure Benefits of DEXUS’s property services platform Leverages DEXUS’s strategic focus and scale Delivers cost savings through centralised procurement, project management and For personal use only As
Slide 47: Property Services – Improving through innovation
PROPERTY SERVICES – Improving through innovation EMBEDDED NETWORK Southgate Complex, Melbourne Targeting $250,000 p.a. in revenue For personal use only Offered managed electricity services to tenants at attractive rates Established a seamless connection process for new tenants Provided an addi
Slide 48: People & Culture – Developing high performing culture
PEOPLE TITLE & CULTURE PAGE (TREBUCHET MS (HEADING) 20 BOLD For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 87 Slide 87 PEOPLE & CULTURE – Developing capabilities and a high performing culture DEXUS is focused on developing a high-performing culture Outc
Slide 49: People & Culture – Measuring high performance
PEOPLE & CULTURE – Measuring high performance Stages of measurement Integrated approach to developing high performance FY13 FY14 FY15 – FY16 Lifestyles Organisational 87% Inventory Culture Overall staff For personal use only leadership Inventory (OCI) LEADERSHIP engagement assessment assessment Obje
Slide 50: People & Culture – Developing our leaders
PEOPLE & CULTURE – Developing our leaders DEXUS LEADERSHIP PROGRAM Leadership Academy Commercial & market Customer leadership leadership For personal use only targeting Top 50 leaders Continually defining and Identify multiple creating value opportunities and drive performance performance Management
Slide 51: People & Culture – Diversity @ DEXUS
PEOPLE & CULTURE – Diversity @ DEXUS Exceeded FY15 target of 33% female participation Female participation as at 30 September 2014 for Non-Executive Directors FY15 target 33% Non-Executive Directors 43% Progressing female participation rate for senior management Senior Management 28% For persona
Slide 52: Closing remarks
TITLE CLOSING PAGE REMARKS (TREBUCHET MS (HEADING) 20 BOLD For personal use only – Presentation DEXUS Property Group 2014 Investor Day Title — Slide 95 Slide 95 CLOSING REMARKS Demonstrated capability across the platform delivering significant results since 2012 DEXUS has sufficient scope throug
Slide 53: Important information
IMPORTANT INFORMATION This presentation is issued by DEXUS Funds Management Limited (DXFM) in its capacity as responsible entity of DEXUS Property Group (ASX:DXS). It is not an offer of securities for subscription or sale and is not financial product advice. Information in this presentation incl
Slide 54: Notes
NOTES For personal use only DEXUS PROPERTY GROUP – 2014 Investor Day 52
Slide 55: DEXUS Property Group Sydney Office Portfolio
DEXUS PROPERTY GROUP SYDNEY OFFICE PORTFOLIO For personal use only 53 DEXUS PROPERTY GROUP – 2014 Investor Day
Slide 56: For personal use only
For personal use only DEXUS PROPERTY GROUP – 2014 Investor Day 54
Slide 57: Grosvenor Place, George Street, Sydney
GROSVENOR PLACE, 225 GEORGE STREET, SYDNEY _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type Premium Grade Office ______________________________________________________________ Title Leasehold _______________________
Slide 58: Governor Phillip & Macquarie Tower, Sydney
GOVERNOR PHILLIP & MACQUARIE TOWER, SYDNEY _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type Premium Grade Office ______________________________________________________________ Title Freehold ________________________
Slide 59: Castlereagh Street, Sydney
60 CASTLEREAGH STREET, SYDNEY _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type A Grade Office ______________________________________________________________ Title Freehold ___________________________________________
Slide 60: Martin Place, Sydney
5 MARTIN PLACE, SYDNEY _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type Development Site ______________________________________________________________ Title Freehold ________________________________________________
Slide 61: Tenant pre-commitments Martin Place, Sydney
TENANT PRE-COMMITMENTS 5 MARTIN PLACE, SYDNEY TENANT PRE-COMMITMENTS _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type Development Site ______________________________________________________________ Title Freehold __
Slide 62: Pitt Street, Sydney
175 PITT STREET, SYDNEY _ For personal use only PROPERTY DETAILS AT 30 JUNE 2014 ______________________________________________________________ Building type A Grade Office ______________________________________________________________ Title Freehold _________________________________________________
Slide 63: DEXUS Property Group Sydney Industrial Portfolio
DEXUS PROPERTY GROUP SYDNEY INDUSTRIAL PORTFOLIO Riverstone Ric hm on dR d 1 Quarrywest, Greystanes For personal use only 2 436-484 Victoria Road, Gladesville Kings Park 3 79-99 St Hilliers Road, Auburn Glendenning 19 M M7 4 57-65 Templar Road, Erskine Park St Mary’s Ric hm t Rd on dR 5 1 Foundation
Slide 64: For personal use only
F3 Rd le Va na Mo 6 Forest Way Wi nd so rR Belrose d For personal use only Pennant Hills Pa 14 Hills Rd cif Pennant ic H wy M7 Warringah Rd M2 29 Brookvale Seven Hills Old Wi Rd nd nt Hills Penna d so eR rR ov d n eC La Pacific Hwy Victoria Rd Artarmon 30 Ryde Dr ay Rd James Ruse er Rd 7 Burns B Sil
Slide 65: Quarry and Quarrywest at Greystanes
QUARRY AND QUARRYWEST AT GREYSTANES For personal use only 63 DEXUS PROPERTY GROUP – 2014 Investor Day
Slide 66: For personal use only
For personal use only DEXUS PROPERTY GROUP – 2014 Investor Day 64
Slide 67: Quarry and Quarrywest at Greystanes
QUARRY AND QUARRYWEST AT GREYSTANES For personal use only July 2014 Quarry at Greystanes is a premium industrial estate that over the In June 2014 DEXUS Property Group purchased the adjoining past five years has been levelled, serviced and developed to provide parcel of land to extend the estate acr
Slide 68: Quarry estate site plan
For personal use only March 2012 HARDSTAND HARDSTAND HARDSTAND PRECINCT B WAREHOUSE 22,350m² WAREHOUSE WAREHOUSE 13,750m² 12,000m² m² E 00 US OFFICE 1,000m² OFFICE 1,000m² OFFICE 1,500m² 2,5 EHO (2 LVLS) (2 LVLS) (2 LVLS) OFFICE R HA 250m² WA RD STA RO ND DOLERITE CLOSE AD PRECINCT A WE TO CO WA REH
Slide 69: Quarry Industrial Estate properties, Greystanes
For personal use only _ _ _ Quarry Industrial Estate, 1 Basalt Quarry Industrial Estate, 1 Quarry Industrial Estate, 2 Road, _ Greystanes Bellevue _ Circuit, Greystanes Bellevue _ Circuit, Greystanes _ _ _ 1 Basalt Road is a premium multi-unit facility 1 Bellevue Circuit is a purpose built 2 Bellevu
Slide 70: Quarry Industrial Estate properties, Greystanes
For personal use only _ _ _ Quarry Industrial Estate, 2-6 Quarry Industrial Estate, 3 Basalt Quarry Industrial Estate, 4 Basalt _ Road, Greystanes Road, _ Greystanes Turnbull _ Close, Greystanes _ _ _ 2-6 Basalt Road is a modern office/warehouse 3 Basalt Road is a modern office/warehouse Completed i
Slide 71: Quarry Industrial Estate properties, Greystanes
For personal use only _ _ _ Quarry Industrial Estate, 5 Basalt Quarry Industrial Estate, 5 Quarry Industrial Estate, 6 Road, _ Greystanes Bellevue _ Circuit, Greystanes Bellevue _ Circuit, Greystanes _ _ _ 5 Basalt is a purpose built temperature 5 Bellevue Circuit is a purpose built 6 Bellevue Circu
Slide 72: Quarry Industrial Estate and Quarrywest
For personal use only _ _ _ _ Quarry Industrial Estate, 8 Basalt Quarrywest, Reconciliation Road, Road, _ Greystanes Greystanes _ _ _ _ Completed in 2010, 8 Basalt Road was the Quarrywest comprises 25.64 hectares of first development at Quarry at Greystanes, a industrial development land located on
Slide 73: O'Riordan Street, Mascot and Rosebery properties
For personal use only _ _ _ 154 _ O'Riordan Street, Mascot 25-55 Rothschild Avenue, 5-15 _ Rosebery Avenue, Rosebery Rosebery _ _ _ _ 154 O'Riordan Street is located in Mascot, an 25-55 Rothschild Avenue provides excellent 5-15 Rosebery Avenue provides excellent established industrial precinct appro
Slide 74: About DEXUS
NOTES For personal use only ABOUT DEXUS DEXUS Property Group is one of Australia’s leading real estate groups, investing directly in high quality Australian office and industrial properties. With $18 billion of assets under management, the Group also actively manages office, industrial and retail pr
Slide 75: DEXUS Property Group 2014 Investor Day
DEXUS PROPERTY GROUP 2014 INVESTOR DAY For personal use only www.dexus.com