Dexus
Dexus is a leading Australasian fully integrated real asset group that actively manages a diversified portfolio of real estate and infrastructure assets valued at $50.1 billion as of 30 June 2025, including $14.5 billion in owned property and $35.6 billion in funds management investments.[1][2] It is listed on the Australian Securities Exchange under the ticker DXS and is Australia's largest owner and manager of office property, with a focus on high-quality assets in sectors such as office, industrial, retail, healthcare, and infrastructure.[3][1] The company's roots trace back to 1984, when Deutsche Bank initiated management of property trusts in Australia, including the Deutsche Diversified Trust (DDF) and Deutsche Industrial Trust (DIT), followed by the Deutsche Office Trust (DOT) in 1998.[4] In 2004, these trusts were stapled together to form the DB RREEF Trust, which underwent a significant rebranding and restructuring in 2008 to become the internally managed Dexus Property Group.[4] Key milestones in its evolution include the 2014 acquisition of the $3.4 billion Commonwealth Property Office Fund in partnership with the Canada Pension Plan Investment Board, expanding its office portfolio, and the transformative 2023 purchase of AMP Capital's $18 billion real estate and infrastructure equity business, which positioned Dexus as a comprehensive real asset manager with over three decades of expertise in the Australian property landscape.[4] Dexus operates through segments including office ($9.7 billion), industrial ($3.6 billion), and other diversified assets, while also maintaining a $13.3 billion development pipeline to support future growth.[2] Supported by approximately 900 employees across offices in Sydney, Melbourne, Brisbane, Perth, and Auckland, the group delivers end-to-end services such as investment and funds management, asset and property management, leasing, tenant services, and development, with a strong emphasis on sustainability and innovative workspace solutions to meet evolving tenant needs.[1]Overview
Company Description
Dexus is a leading Australasian fully integrated real asset group, specializing in the ownership, management, and development of high-quality real estate and infrastructure assets across Australia and New Zealand.[1] The company focuses on creating value through strategic investment and operations in key sectors including office, industrial, retail (such as shopping centres), healthcare, and infrastructure properties.[1] Headquartered in Sydney, Australia, at Level 30, Quay Quarter Tower, 50 Bridge Street, Dexus has been listed on the Australian Securities Exchange (ASX) under the ticker symbol DXS since its inception as a listed entity.[5] Its mission centers on unlocking the potential of real assets to deliver long-term value for investors, customers, communities, and other stakeholders through innovative leasing, sustainable development, and asset management practices.[6] As of 2025, Dexus employs approximately 900 engaged professionals across offices in Sydney, Melbourne, Brisbane, Perth, and Auckland.[1] The company's official website is www.dexus.com, with primary investor relations contact available at [email protected].[7]Key Financial Metrics
Dexus manages total assets under management (AUM) of $35.6 billion in its funds management business as of the fiscal year ended June 30, 2025 (FY2025), encompassing third-party capital invested in diversified real estate funds.[8] The broader Dexus Platform, including direct and indirect ownership, holds a portfolio valued at $50.1 billion as of the same date, reflecting the scale of its integrated real asset operations.[8] Key revenue metrics for the trailing 12 months (TTM) ended June 30, 2025, show total revenue of $951.2 million, marking a modest increase from $848.4 million in FY2023 and underscoring steady operational performance amid market challenges.[8][9] As a real estate investment trust (REIT), Dexus prioritizes funds from operations (FFO) and adjusted FFO (AFFO) as core performance indicators; for FY2025, AFFO reached $483.9 million or 45.0 cents per security, while distributions to unitholders totaled $398.0 million or 37.0 cents per security, providing consistent returns to investors.[8] Following the release of its FY2025 annual report on August 19, 2025, Dexus's market capitalization stood at $7.2 billion, with total securityholder return (TSR) of 8.4% for the year, supported by portfolio valuation stabilization and strategic asset management.[8] This growth was partly influenced by the 2023 acquisition of AMP Capital's property business, which expanded Dexus's scale.[8]| Metric | FY2025 Value (AUD) | Notes |
|---|---|---|
| Funds Management AUM | $35.6 billion | Third-party investments in real estate funds. |
| Total Portfolio Value | $50.1 billion | Direct and indirect ownership across sectors. |
| Total Revenue (TTM) | $951.2 million | Ended June 30, 2025. |
| AFFO | $483.9 million (45.0 cents per security) | Key REIT profitability measure. |
| Distributions | $398.0 million (37.0 cents per security) | Paid to unitholders. |
| Market Capitalization | $7.2 billion | As of August 2025. |