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UNPRECEDENTED DEXUS DEAL COULD KICKSTART MALL TREND

Ingrid Fuary-WagnerExplainer editor
Oct 15, 2019 – 12.05am
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One of Australia's biggest commercial landlords has bought a retail centre in
Sydney's western suburbs with plans to convert it into an industrial property
over the next five years – a move that could kickstart a trend already seen in
the United States.

Dexus acquired Homemaker Prospect, a 25,770sq m large-format retail centre near
Blacktown, for about $65 million on a 7 per cent yield from Altis after the
private equity real estate firm first listed it for sale in early 2018. Altis
bought the asset in 2013 for $40.45 million.


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