May 22, 2017 / 11:51 PM / 3 months ago

BRIEF-Dexus Property Group sells property to Charter Hall JV for $229 mln

May 23 (Reuters) - Dexus Property Group

* Sale of remaining FY17 trading property

* Exchanged contracts to sell 105 Phillip Street, Parramatta; property has been sold for $229 million to a Charter Hall Joint Venture

* Property has been sold for $229 million to a Charter hall joint venture at an implied cap rate of 5.3 pct

* Remaining proceeds from sale will be received on practical completion of development in mid-2018, contributing to FY18 trading profits

* Portion of proceeds from sale will be received in May 2017 contributing to FY17 trading profits Source text for Eikon: Further company coverage:

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