DEXUS Property Group has sold a large warehouse facility in Toronto, Canada for $C78.7 million.
The 70,100 sqm facility is leased to Whirlpool and was the group’s only Canadian investment.
Proceeds from the sale will be used to repay debt.
CEO Victor Hood Antink said the price represents excellent value and the price is a 13% premium to the December 2010 book value of $C69.4 million and is a 10% premium to the original cost price and a selling yield of 5.9%.
Australian Property Journal
