Dexus captures $297m in equity for real estate, healthcare property funds

Australia-based Dexus, which manages a high-quality Australasian real estate and infrastructure portfolio valued at A$62.7 billion ($44 billion), has raised A$420 million ($297 million) in new equity across Dexus Real Estate Partnership 1 (DREP1) and Dexus Healthcare Property Fund (DHPF).

DREP1 is the first in a series of closed-end opportunity funds that seek to provide wholesale investors with an enhanced return through exposure to investments in property repositioning, development, special situations and credit opportunities. DREP1’s fundraise represents the final close for the fund, taking its investment capacity to A$1 billion ($708 million), including leverage.

Dexus also has secured two additional opportunities for DREP1. The fund acquired a medical and professional center located within the Noosa medical precinct. The site includes 7,000 square meters (75,347 square feet) of net leasable area across three separate buildings, offering leasing and development u