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Dexus Sells U.S. Warehouses for $770 Million to Blackstone

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Dexus Property Group, Australia’s biggest owner and manager of office properties, will sell 65 of its U.S. properties to Blackstone Group LP for $770 million to restructure debt, repurchase shares and boost dividends.

Affiliates of Blackstone Real Estate Partners VII, a property fund run by the world’s largest private-equity firm, will buy industrial assets, including three warehouses leased to Whirlpool Corp. in central U.S., the Sydney-based company said in a statement to the Australian stock exchange.