Dexus and Boral Logistics Precinct Development

planned

Dexus and Boral have formed a strategic joint venture to develop the largest institutionally held logistics precinct in Australasia. The project will transform 630 hectares of Boral-owned land in Ravenhall, Melbourne, into approximately 2.5 million square metres of lettable industrial space. The site is located in Melbourne's western corridor, a critical logistics hub, just 20 km from the Melbourne CBD. Dexus will maintain at least a 10% look-through principal interest in each designated "superlot" and is responsible for the rezoning process, with preparatory work already underway. The pre-development phase is expected to have minimal impact on Dexus's adjusted funds from operations. Dexus will act as trustee, development manager, and investment manager for the project.