Scentre (ASX:SCG) on Wednesday announced that Dexus Wholesale Shopping Centre Fund will buy a 25% stake in Westfield Chermside for $683 million, according to a filing with the Australian bourse.
The purchase price shows the real estate company's book value on June 30 2025, and a valuation capitalization rate of 5%.
Westfield Chermside is one of company's flagship regional shopping centers in Brisbane.
The company also reaffirmed its 2025 funds from operations target of 22.75 cents per security for 2025, a 4.3% rise on the year.
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