Dexus · DEXUS Property Group (ASX: DXS) ASX release 16 August 2012 . 2012 property synopsis and portfolio results. DEXUS Funds Management Limited, as responsible entity for DEXUS

DEXUS Property Group (ASX: DXS) ASX release

16 August 2012 2012 property synopsis and portfolio results DEXUS Funds Management Limited, as responsible entity for DEXUS Property Group (DXS), provides the 2012 property synopsis and portfolio results. We have also published the 2012 property synopsis spread sheet on our web site at www.dexus.com/synopsis The property synopsis spread sheet contains details for each property, a Reconciliation of Operating EBIT, FFO and Distribution and other information as at 30 June 2012. For further information please contact:

Investor Relations Media Relations

David Yates T: +61 2 9017 1424 M: 0418 861 047 E: [email protected]

Emma Parry T: +61 2 9017 1133 M: 0421 000 329 E: [email protected]

About DEXUS DEXUS’s vision is to be globally recognised as the leading real estate company in Australia, with market leadership in office, and has $13 billion of assets under management. DEXUS invests in high quality Australian office and industrial properties and, on behalf of third party clients, is a leading manager and developer of industrial properties and shopping centres in key markets. The Group’s stock market trading code is DXS and more than 18,000 investors from 15 countries invest in the Group. At DEXUS we pride ourselves on the quality of our properties and people, delivering world-class, sustainable workspaces and service excellence to our tenants and delivering enhanced returns to our investors. DEXUS is committed to being a market leader in Corporate Responsibility and Sustainability. www.dexus.com

DEXUS Funds Management Ltd ABN 24 060 920 783, AFSL 238163, as Responsible Entity for DEXUS Property Group (ASX: DXS)

http://www.dexus.com/synopsis

2012 DXS PROPERTY SYNOPSIS & PORTFOLIO RESULTS30 JUNE

Front cover: 1 Bligh Street, Sydney, NSWThis page: Sydney CBD including Governor Phillip Tower, 1 Bligh Street, Gateway and Australia Square

DEXUS is one of Australia’s leading real estate groups specialising in superior quality office, industrial and retail properties with total funds under management of $12.7 billion. We strive to deliver superior risk‑adjusted returns for our investors from high quality Australian real estate primarily comprising CBD office buildings.

DXS PORTFOLIO 2

DXS DEBT SUMMARY 4

AUSTRALIAN AND NEW ZEALAND OFFICE PORTFOLIO 7

AUSTRALIAN INDUSTRIAL PORTFOLIO 22

UNITED STATES INDUSTRIAL PORTFOLIO 44

PORTFOLIO INDEX 59

DIRECTORY 60

All data is based on 30 June 2012 values including any future committed acquisitions or disposals and is represented in Australian dollars unless otherwise stated. Book value and valuation conversion rates as at 30 June 2012 are AUD/USD $1.0191, AUD/NZD $1.2771, AUD/EUR $0.8092.

All our properties either form part of our $6.9 billion direct property portfolio, one of the largest listed REITs in Australia (ASX:DXS), or our $5.7 billion third party funds management business which manages and develops office, industrial and retail properties on behalf of third party investors including DEXUS Wholesale Property Fund (DWPF).

In Australia, DEXUS is a market leader in office and industrial properties and a leading manager and developer of shopping centres.

DEXUS has a proven track record spanning more than 25 years in commercial property investment. We are committed to delivering best in class sustainable property solutions in partnership with our tenants and building enduring value both for our investors and for the wider community.

1 Excludes cash.

About DXS: In 2004 DXS completed a consolidation of its operations by stapling four of its trusts into one security forming DEXUS Property Group (ASX code: DXS). A DXS stapled security consists of a unit from each of DEXUS Diversified Trust (DDF), DEXUS Industrial Trust (DIT), DEXUS Office Trust (DOT) and DEXUS Operations Trust (DXO).

OFFICE$4.7bn

INDUSTRIAL$539m

INDUSTRIAL$1.7bn

DXS Australia $6.3bn DXS United States $539m

DEXUS Property Group (DXS) structure $6.9bn1

2 DEXUS PROPERTY gROUP 2012 PROPERTy SyNOPSIS AND PORTFOLIO RESULTS

Governor Phillip Tower, 1 Farrer Place, Sydney, NSW

DXS PORTFOLIO

TOTAL PROPERTIES

TOTAL VALUE

TOTAL NLA (SQM)

TOTAL PORTFOLIO OCCUPANCY BY AREA

TOTAL PORTFOLIO LEASE DURATION

106$6.9bn1

2.5m

93.4%

4.7YEARS


Perth Adelaide AucklandSydney

Brisbane

Melbourne

Canberra

Los AngelesInland Empire

San DiegoDallas

San Antonio

Seattle

28 OFFICE PROPERTIES 596,111 SQM

45 INDUSTRIAL PROPERTIES 1,194,309 SQM

TOTAL VALUE $6.3 BILLION

27 US INDUSTRIAL PROPERTIES 6,787,779 SF

TOTAL VALUE $539 MILLION

Office 67%

Industrial 24%

Other 1%

US Industrial 8%

DXS PORTFOLIO DIVERSIFICATION

$6.9bn1

1 Excludes cash.


DXS DEBT SUMMARY

Debt sources1

USPP 5%

MTN 15%

144A 14%

Bank – unsecured 63%

Mortgage notes 3%

Debt maturity profile1

0

100

200

300

400

500

Dec

12

$m

Jun

13

Dec

13

Jun

14

Dec

14

Jun

15

Dec

15

Jun

16

Dec

16

Jun

17

FY17

+

Capital Markets Bank – Drawn Bank – Undrawn

Hedge maturity profile

0

500

1000

1500

2000

0

2

4

6

8

10

FY12

$m

Per

cent

FY13

FY14

FY15

FY16

FY17

FY18

FY19

FY20

FY21

Average amount hedged Weighted average hedge rate

1 Including $30 million of medium term notes that were secured post 30 June 2012.


Debt overview

30 June 2012 30 June 2011 Change

Total debt $1,941m $2,215m 12.4%

Cost of debt1 6.1% 6.6% 0.5%

Gearing2 27.2% 28.4% 1.2%

Headroom3 $0.6bn $0.6bn

Covenant gearing (covenant4 <55%) 27.8% 29.1% 1.3%

Debt duration1 4.2 years 4.2 years

Credit ratings BBB+/Baa1 BBB+/Baa1

Interest cover (covenant4 >2.0x) 3.8x 3.1x 0.7x

Priority debt (covenant4 <30%) 1.1% 5.3% 4.2%

1 Weighted average.2 Gearing is represented by Interest Bearing Liabilities (excluding deferred borrowing costs and including the fair value of cross currency swaps) less cash divided by Total Tangible Assets

(excluding derivatives and deferred tax assets) less cash. Covenant gearing is the same definition but not adjusted for cash.3 Undrawn facilities plus cash.4 As per public bond covenants.

Debt facilities

Facility limitA$’m

Drawn A$’m

Maturity dates Security Currency

Bilateral bank debt 250 50 Sep 13 Unsecured A$

100 44 Jan 14-Mar 14 Unsecured A$

100 50 Sep 14 Unsecured A$

249 170 Jan 15-Mar 15 Unsecured A$, US$

225 104 Oct 15-Dec 15 Unsecured A$

195 195 Jun 16-Sep 16 Unsecured A$

252 184 Oct 16-Dec 16 Unsecured A$, US$

250 250 Mar 17-Jul 17 Unsecured A$

Mortgage loans 75 75 Jun 17-Dec 17 Secured US$

Medium term notes 160 160 Jul 14 Unsecured A$

180 180 Apr 17 Unsecured A$

US senior notes (144a) 122 122 Oct 14 Unsecured US$

244 244 Mar 21 Unsecured US$

US senior notes (USPP) 128 128 Dec 14-Mar 17¹ Unsecured US$

Total 2,530 1,956

Bank Guarantee Utilised 1

Cash (59)2

Headroom 632

1 USPP Maturity: US$78 million December 14, US$11 million March 15, US$19 million December 16, US$22 million March 17.2 As at 30 June 2012, the Group held US$25.2 million (A$24.7 million) in escrow in relation to the US assets disposal in June 2012.


Debt balances by jurisdiction

Interest bearing liabilities

$m

Cross currencyswaps1

$m

Total liabilities aftercross ccy swaps

$m

Weighted average cost of debt FY122

%

Australia/New Zealand A$1,302 A$64 A$1,366 7.4

USA US$621 US$(65) US$556 4.8

Europe €37 – €37 4.5

Total A$1,956 – A$1,957 6.1

Less amortised debt costs (A$15)

Current and non-current interest bearing liabilities A$1,941

1 Cross currency swap principal amounts included at contract exchange rates.2 Weighted average of fixed and floating rates for the current period, inclusive of fees and margins on a drawn basis and includes RENTS.

Interest rate hedging profile

FY12 FY13 FY14 FY15 FY16 FY17 Avg FY17+4

A$ net fixed coupon debt (A$m)1,2 75 75 75 75 75 56 0

A$ interest rate swaps (A$m)1 765 888 674 500 398 360 90

A$ interest rate caps (A$m) 70 70 140 140 140 70 0

A$ total hedged (A$m) 910 1,033 889 715 613 486 90

A$ hedge rate (ex margin)3 4.98% 4.26% 4.77% 5.23% 5.43% 5.48% 5.99%

US$ net fixed coupon debt (US$m)1,2 341 250 250 250 250 250 229

US$ interest rate swaps (US$m)1 481 135 120 83 83 60 18

US$ total hedged (US$m) 822 385 370 333 333 310 247

US$ hedge rate (ex margin)3 3.52% 2.79% 2.85% 3.48% 3.58% 3.70 3.58%

€m total hedged (€m)1 87 – – – – – –

€ hedge rate (ex margin)3 4.26% – – – – – –

Total hedged (A$m)1 1,819 1,410 1,264 1,056 954 803 342

Hedge rate (ex margin)3 4.33% 3.87% 4.20% 4.67% 4.77% 4.78% 4.19%

1 Average amount during the period.2 Gross fixed coupon debt less the amount converted to floating rate basis via coupon-matched swaps.3 Weighted average rate of fixed debt, swaps and caps for the period. Caps included at a rate equal to the lower of cap strike and forecast floating rate for the applicable period.4 Hedging period Fy17-Fy21.

Fixed debt profile

FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21

A$m gross fixed coupon debt (avg) 180 180 180 180 180 135 – – – –

A$ fixed debt rate (coupon) 8.75% 8.75% 8.75% 8.75% 8.75% 8.75%

Average term (yrs) 4.8

US$m gross fixed coupon debt (avg) 836 505 505 362 291 273 250 250 250 167

US$ fixed debt rate (coupon) 6.17% 5.95% 5.95% 5.68% 5.60% 5.60% 5.60% 5.60% 5.60% 5.60%

Average term (yrs) 5.8

Note: DXS holds interest bearing liabilities at amortised cost in accordance with AASB 139 as the liabilities do not meet the criteria to fair value account. The fair value of fixed interest bearing liabilities is disclosed in the full year Financial Statements as a note.

DXS DEBT SUMMARY


1 Bligh Street and Governor Phillip & Macquarie Tower Complex, Sydney, NSW

AUSTRALIAN AND NEW ZEALAND OFFICE PORTFOLIO

KEY PORTFOLIO STATISTICSTotal value $4.7bn (2011: $4.5bn)

Total properties 28 (2011: 28)

Occupancy (by area) 97.1% (2011: 96.2%)

Total net lettable area 596,111 sqm (2011: 558,000 sqm)

Number of tenants 553 (2011: 519)

Tenant retention rate 66% (2011: 53%)

Lease duration (by income) 4.9 years (2011: 5.3 years)

Average capitalisation rate 7.3% (2011: 7.4%)

Average NABERS Energy rating 3.9 stars (2011: 3.6 stars)

Average NABERS Water rating 3.3 stars (2011: 3.1 stars)



SYDNEY

358,594sqm 20.0% port/area $3,008m value 48.2% portfolio

17 properties

CANBERRA

22,551sqm 1.3% port/area $76m value 1.2% portfolio

2 properties

MELBOURNE


6 properties

BRISBANE


1 property

PERTH


1 property

AUCkLAND


1 property

Property type by book value

A-Grade 50.3%Premium Grade 38.6%

Land 0.5%

B-Grade 2.8%

Car Parks 4.0%

Office & Business Parks 3.8%

Geographical weighting by book value

Perth 9.8%

Melbourne 14.2%

Sydney 64.3%

Canberra 1.6%Brisbane 8.0%

Auckland 2.1%

Diversity of tenants by income

Mining 16%

Government 16%

Legal & Accounting 18%

Finance 11%

Parking 10%

Property & Business Services 7%

Telecoms & IT 6%

Insurance 5%

Other 11%

Lease expiry profile

12.

4%

10.

0%

2.9

%

3.2

%

10.

2%

10.

7% 13.

8%

12.

2%

16.

5%

13.

1%

9.3

%

9.3

%

5.5

%

5.0

%

11.

3%

10.

1%

2.3

%

2.1

%

3.2

%

3.6

%

4.4

%

5.2

% 8.2

%

15.

5%

Vaca

nt

FY1

3

FY1

4

FY1

5

FY1

6

FY1

7

FY1

8

FY1

9

FY2

0

FY2

1

FY2

2

FY2

3+

Income

Area

PERTHSYDNEY

BRISBANE

MELBOURNE

CANBERRAAUCkLAND

% of Australia & New Zealand Portfolio.


400

440

480

520

560

600

640 636.3 140.8880.9

812.5

769.4

696.2

643.5

120.5114.8

103.0

93.4

536.6504.9

465.5

422.8

�34%

Meg

ajou

les/

sqm

Kg

CO

2-e/

sqm

FY08 FY09 FY10 FY11 FY12 FY08 FY09 FY10 FY11 FY12FY08 FY09 FY10 FY11 FY1280

90

100

110

120

130

140�

34%

Litr

es/s

qm

640

680

720

760

800

840

880�

27%

DXS office energy intensity DXS office GHG intensityDXS office water intensity

SUSTAINABILITY HIGHLIGHTS

NABERS ratings

NABERS Energy NABERS Water

30 June 2012 30 June 2011 30 June 2012 30 June 2011

Rating status Inc gP Ex gP Inc gP Ex gP

The Zenith, 821 Pacific Highway, Chatswood 4.0 3.0 3.5 2.5 3.0 2.0

11 Talavera Road, Macquarie Park 3.5 3.5 3.5 3.5 4.0 4.0

40-50 Talavera Road, Macquarie Park 1.5 1.5 2.0 2.0 2.0 2.0

130 George Street, Parramatta – – – – 3.5 3.0

Victoria Cross, 60 Miller Street, North Sydney 4.0 3.5 3.0 2.5 3.5 3.5

45 Clarence Street, Sydney 5.0 5.0 3.5 3.0 3.5 3.0

201-217 Elizabeth Street, Sydney 3.5 3.5 2.5 2.0 3.0 3.5

Governor Phillip Tower, 1 Farrer Place, Sydney 4.5 3.5 4.0 3.0 3.5 3.0

Governor Macquarie Tower, 1 Farrer Place, Sydney 4.5 4.0 4.5 3.5 3.5 4.0

Australia Square – Tower 4.5 4.0 5.0 4.0 4.0 3.5

Australia Square – Plaza 5.0 4.5 5.0 4.5 4.0 4.0

309 Kent Street, Sydney 5.0 4.5 4.0 3.5 3.5 3.5

321 Kent Street, Sydney 5.0 4.5 4.0 3.5 3.5 3.5

383-395 Kent Street, Sydney 4.5 4.0 4.0 3.5 4.0 3.5

One Margaret Street, Sydney 5.0 4.5 3.5 3.0 2.5 2.0

44 Market Street, Sydney 3.5 2.5 2.5 2.0 2.5 2.5

30-34 Hickson Road, Sydney 5.0 4.5 5.0 4.5 3.5 2.5

Garema Court, 140-180 City Walk, Canberra 5.0 4.5 3.0 3.0 1.5 –

14 Moore Street, Canberra 4.0 3.5 3.5 3.0 3.0 2.5

172 Flinders Gate, Melbourne 3.0 2.5 2.5 2.0 3.0 3.5

189 Flinders Gate, Melbourne 4.0 3.5 2.5 2.5 1.5 –

8 Nicholson Street, Melbourne 3.5 3.5 3.0 3.0 3.5 4.5

Southgate Complex – HWT Tower 4.0 3.5 3.5 3.5 3.5 3.0

Southgate Complex – IBM Tower 4.0 3.5 4.0 3.5 4.0 3.0

Woodside Plaza, 240 St Georges Terrace, Perth 3.5 3.0 2.0 1.5 2.5 3.0

Total 3.9 3.5 3.4 3.0 3.3 3.1

GP: GreenPower



SUMMARY OF PROPERTIES

Property address State Metro area Building type Ownership (%)

Lettable area adjusted for

ownership(‘000 sqm)

Acquisition date

Book value 30 June 12

(A$m)

Independent valuation

date


(A$m)

Cap rate(%)4

Leased by area

(%)

Weighted average

lease expiryby income

(years)

AIFRS NOI12 mths to 30 June 12

(A$m)

Australia

14 Moore Street, Canberra ACT Canberra CBD B Grade – office 100 11.1 May 02 27.60 Jun 10 37.00 9.25 90 0.5 4.1

Garema Court, 140-180 City Walk, Canberra ACT Canberra CBD A Grade – office 100 11.4 Aug 00 48.80 Dec 11 29.50 7.75 99 10.9 4.0

The Zenith, 821 Pacific Highway, Chatswood NSW Chatswood A Grade – office 50 22.2 Dec 98 117.27 Jun 10 107.50 8.25 100 4.1 9.1

11 Talavera Road, Macquarie Park NSW Macquarie Park Office Park 100 35.9 Jun 02 147.86 Jun 10 127.00 8.00 91 4.0 8.9

144 Wicks Road, Macquarie Park1, 3 NSW Macquarie Park Land 50 Nov 06 16.72 Jun 11 18.00 – 0 0 0.0

40-50 Talavera Road, Macquarie Park NSW Macquarie Park Business Park 100 13.3 Oct 02 29.00 Dec 11 31.50 10.00 90 2.6 1.8

Victoria Cross, 60 Miller Street, North Sydney NSW North Sydney A Grade – office 100 19.5 Dec 98 141.14 Jun 11 135.00 7.50 100 5.1 8.6

105 Phillip Street, Parramatta1 NSW Parramatta CBD Land 100 May 97 8.00 Dec 10 8.00 – 0 0 0.0

130 George Street, Parramatta5 NSW Parramatta CBD B Grade – office 100 19.8 May 97 77.20 Dec 10 77.00 8.38 100 3.6 6.1

1 Bligh Street, Sydney NSW Sydney CBD Premium Grade – office 33 14.3 Aug 00 221.17 Jun 11 209.67 6.38 90 8.9 6.2

201-217 Elizabeth Street, Sydney NSW Sydney CBD A Grade – office 50 19.4 Aug 00 148.08 Jun 11 144.00 7.38 100 2.6 9.1

30 The Bond, 30-34 Hickson Road, Sydney NSW Sydney CBD A Grade – office 100 19.7 May 02 146.51 Dec 10 145.00 7.13 100 2.0 11.3

309-321 Kent Street, Sydney NSW Sydney CBD A Grade – office 50 23.5 Dec 98 191.00 Jun 12 191.00 7.24 100 3.7 11.3

383-395 Kent Street, Sydney NSW Sydney CBD A Grade – office 100 18.0 Sep 87 133.96 Dec 11 133.00 7.25 100 3.5 8.1

44 Market Street, Sydney NSW Sydney CBD A Grade – office 100 30.1 Sep 87 217.69 Jun 10 192.70 7.25 100 5.1 11.9

45 Clarence Street, Sydney NSW Sydney CBD A Grade – office 100 32.1 Dec 98 250.30 Jun 11 247.50 7.13 88 3.0 13.3

Australia Square Complex, 264-278 George Street, Sydney NSW Sydney CBD A Grade – office 50 26.7 Aug 00 271.50 Dec 11 278.75 6.92 87 3.6 16.2

Governor Phillip & Macquarie Tower Complex, 1 Farrer Place, Sydney NSW Sydney CBD Premium Grade – office 50 43.3 Dec 98 651.09 Dec 10 643.00 6.25 99 4.2 35.3

Sydney CBD Floor Space (1 Chifley Square, Sydney) NSW Sydney CBD Other 100 – – – Dec 11 0.13 – 0 0 0.0

One Margaret Street, Sydney NSW Sydney CBD A Grade – office 100 21.0 Dec 98 175.33 Dec 11 173.50 7.00 100 6.9 12.9

123 Albert Street, Brisbane QLD Brisbane CBD Premium Grade – office 100 39.3 Oct 84 375.50 Jun 12 375.50 7.00 99 8.7 16.5

8 Nicholson Street, Melbourne VIC Melbourne CBD A Grade – office 100 23.5 Nov 93 93.50 Jun 12 93.50 8.00 100 1.0 8.7

Flinders Gate Complex, 172 Flinders Street and 189 Flinders Lane, Melbourne VIC Melbourne CBD B Grade – office 100 8.8 Mar 99 28.10 Jun 11 28.50 8.25 99 1.2 2.1

Southgate Complex, 3 Southgate Avenue, Southbank VIC Melbourne CBD A Grade – office 100 76.5 Aug 00 418.35 Jun 12 418.35 7.74 98 4.8 29.3

Woodside Plaza, 240 St Georges Terrace, Perth WA Perth CBD Premium Grade – office 100 47.3 Jan 01 460.00 Jun 12 460.00 7.75 100 5.1 31.4

New Zealand

Lumley Centre, 88 Shortland Street, Auckland Auckland Auckland CBD Premium Grade – office 100 19.6 Sep 05 96.52 Jun 10 100.59 8.50 100 3.8 7.6

Car park

383-395 Kent Street, Sydney2 NSW Sydney CBD Car park 100 Sep 87 64.00 Dec 11 64.00 7.75 100 10.0 5.2

32-44 Flinders Street, Melbourne2 VIC Melbourne CBD Car park 100 Jun 98 29.93 Jun 11 29.50 8.00 100 8.1 2.2

34-60 Little Collins Street, Melbourne2 VIC Melbourne CBD Car park 100 Nov 84 39.26 Jun 11 39.20 8.75 100 9.8 3.8

Flinders Gate Complex, 172 Flinders Street, Melbourne2 VIC Melbourne CBD Car park 100 Mar 99 54.00 Jun 11 54.00 8.00 100 10.0 4.6

1 Vacant land.

2 All public car parking revenue is assumed to have an income expiry of 10 years.

3 Book value includes development properties that are held at the lower of cost or recoverable amount.

4 Cap rate is the capitalisation rate resulting from the book value.

5 The available % under lease expiry relates to vacant car spaces at 130 George Street, Parramatta.






Acquisition date


(A$m)


date


(A$m)

Cap rate(%)4

Leased by area

(%)

Weighted average


(years)


(A$m)

Australia

14 Moore Street, Canberra ACT Canberra CBD B Grade – office 100 11.1 May 02 27.60 Jun 10 37.00 9.25 90 0.5 4.1

Garema Court, 140-180 City Walk, Canberra ACT Canberra CBD A Grade – office 100 11.4 Aug 00 48.80 Dec 11 29.50 7.75 99 10.9 4.0

The Zenith, 821 Pacific Highway, Chatswood NSW Chatswood A Grade – office 50 22.2 Dec 98 117.27 Jun 10 107.50 8.25 100 4.1 9.1

11 Talavera Road, Macquarie Park NSW Macquarie Park Office Park 100 35.9 Jun 02 147.86 Jun 10 127.00 8.00 91 4.0 8.9

144 Wicks Road, Macquarie Park1, 3 NSW Macquarie Park Land 50 Nov 06 16.72 Jun 11 18.00 – 0 0 0.0

40-50 Talavera Road, Macquarie Park NSW Macquarie Park Business Park 100 13.3 Oct 02 29.00 Dec 11 31.50 10.00 90 2.6 1.8

Victoria Cross, 60 Miller Street, North Sydney NSW North Sydney A Grade – office 100 19.5 Dec 98 141.14 Jun 11 135.00 7.50 100 5.1 8.6

105 Phillip Street, Parramatta1 NSW Parramatta CBD Land 100 May 97 8.00 Dec 10 8.00 – 0 0 0.0

130 George Street, Parramatta5 NSW Parramatta CBD B Grade – office 100 19.8 May 97 77.20 Dec 10 77.00 8.38 100 3.6 6.1

1 Bligh Street, Sydney NSW Sydney CBD Premium Grade – office 33 14.3 Aug 00 221.17 Jun 11 209.67 6.38 90 8.9 6.2

201-217 Elizabeth Street, Sydney NSW Sydney CBD A Grade – office 50 19.4 Aug 00 148.08 Jun 11 144.00 7.38 100 2.6 9.1

30 The Bond, 30-34 Hickson Road, Sydney NSW Sydney CBD A Grade – office 100 19.7 May 02 146.51 Dec 10 145.00 7.13 100 2.0 11.3

309-321 Kent Street, Sydney NSW Sydney CBD A Grade – office 50 23.5 Dec 98 191.00 Jun 12 191.00 7.24 100 3.7 11.3

383-395 Kent Street, Sydney NSW Sydney CBD A Grade – office 100 18.0 Sep 87 133.96 Dec 11 133.00 7.25 100 3.5 8.1

44 Market Street, Sydney NSW Sydney CBD A Grade – office 100 30.1 Sep 87 217.69 Jun 10 192.70 7.25 100 5.1 11.9

45 Clarence Street, Sydney NSW Sydney CBD A Grade – office 100 32.1 Dec 98 250.30 Jun 11 247.50 7.13 88 3.0 13.3

Australia Square Complex, 264-278 George Street, Sydney NSW Sydney CBD A Grade – office 50 26.7 Aug 00 271.50 Dec 11 278.75 6.92 87 3.6 16.2

Governor Phillip & Macquarie Tower Complex, 1 Farrer Place, Sydney NSW Sydney CBD Premium Grade – office 50 43.3 Dec 98 651.09 Dec 10 643.00 6.25 99 4.2 35.3

Sydney CBD Floor Space (1 Chifley Square, Sydney) NSW Sydney CBD Other 100 – – – Dec 11 0.13 – 0 0 0.0

One Margaret Street, Sydney NSW Sydney CBD A Grade – office 100 21.0 Dec 98 175.33 Dec 11 173.50 7.00 100 6.9 12.9

123 Albert Street, Brisbane QLD Brisbane CBD Premium Grade – office 100 39.3 Oct 84 375.50 Jun 12 375.50 7.00 99 8.7 16.5

8 Nicholson Street, Melbourne VIC Melbourne CBD A Grade – office 100 23.5 Nov 93 93.50 Jun 12 93.50 8.00 100 1.0 8.7

Flinders Gate Complex, 172 Flinders Street and 189 Flinders Lane, Melbourne VIC Melbourne CBD B Grade – office 100 8.8 Mar 99 28.10 Jun 11 28.50 8.25 99 1.2 2.1

Southgate Complex, 3 Southgate Avenue, Southbank VIC Melbourne CBD A Grade – office 100 76.5 Aug 00 418.35 Jun 12 418.35 7.74 98 4.8 29.3

Woodside Plaza, 240 St Georges Terrace, Perth WA Perth CBD Premium Grade – office 100 47.3 Jan 01 460.00 Jun 12 460.00 7.75 100 5.1 31.4

New Zealand

Lumley Centre, 88 Shortland Street, Auckland Auckland Auckland CBD Premium Grade – office 100 19.6 Sep 05 96.52 Jun 10 100.59 8.50 100 3.8 7.6

Car park

383-395 Kent Street, Sydney2 NSW Sydney CBD Car park 100 Sep 87 64.00 Dec 11 64.00 7.75 100 10.0 5.2

32-44 Flinders Street, Melbourne2 VIC Melbourne CBD Car park 100 Jun 98 29.93 Jun 11 29.50 8.00 100 8.1 2.2

34-60 Little Collins Street, Melbourne2 VIC Melbourne CBD Car park 100 Nov 84 39.26 Jun 11 39.20 8.75 100 9.8 3.8

Flinders Gate Complex, 172 Flinders Street, Melbourne2 VIC Melbourne CBD Car park 100 Mar 99 54.00 Jun 11 54.00 8.00 100 10.0 4.6



_14 Moore Street, Canberra_

_

_Garema Court, 140-180 CityWalk, Canberra_

_

_The Zenith, 821 Pacific Highway,Chatswood_

_The 14 level office tower comprises a groundfloor foyer, 13 office levels and two levels ofbasement car parking. The property is locatedin the north-west quadrant of Civic, which isthe main financial precinct in Canberra. A liftrefurbishment program will be completedduring 2012.

_

Garema Court is located on City Walk, Civic, inCanberra's CBD, close to Canberra's shoppingprecinct, bus interchange and major carparks. Significant refurbishment wascompleted in 2012 for a new whole buildingtenant.

_

The Zenith is a twin-tower office complex,located in the Chatswood commercial precinctbetween the Pacific Highway and the NorthShore railway line. The towers each have 21levels of A Grade office accommodation withground floor retail space, a 250 seat theatreand five levels of basement parking.

__Details_Metro area Canberra CBD________________________________________Building type B Grade Office________________________________________Title Leasehold________________________________________Ownership DXS 100%________________________________________Zoning Commercial A Precinct b1________________________________________Year built 1986________________________________________Site area (hectares) 0.2________________________________________Lettable area adjusted ('000 m2) 11.1________________________________________Typical floor (m2) 870________________________________________Car parking 63________________________________________NABERS Energy rating(with GreenPower)

4.0________________________________________NABERS Energy rating(without GreenPower)

3.5________________________________________NABERS Water rating 3.0________________________________________Major tenant Commonwealth of Australia________________________________________Acquisition date May 2002________________________________________Book value (AU $m) $27.6________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $37.0________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 14.71________________________________________Discount rate (%) 10.00________________________________________Leased by area (%) 90________________________________________Weighted lease term by income (year/s) 0.5________________________________________Available (%) 9________________________________________2013 (%) 89________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 2________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Canberra CBD________________________________________Building type A Grade Office________________________________________Title Leasehold________________________________________Ownership DXS 100%________________________________________Zoning CZ1 Core Zone, City Centre Precinct________________________________________Year built 1997________________________________________Site area (hectares) 0.2________________________________________Lettable area adjusted ('000 m2) 11.4________________________________________Typical floor (m2) 1625________________________________________Car parking 68________________________________________NABERS Energy rating(with GreenPower)


4.5________________________________________NABERS Water rating 1.5________________________________________Major tenant Commonwealth of Australia________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $48.8________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $29.5________________________________________Market cap rate (%) 7.75________________________________________Initial yield (%) 8.06________________________________________Discount rate (%) 9.25________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 10.9________________________________________Available (%) 2________________________________________2013 (%) 0________________________________________2014 (%) 2________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 1________________________________________2019 (%) 4________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 91________________________________________

_Details_Metro area Chatswood________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner GPT Wholesale Office Fund________________________________________Zoning 3(c2) Business Commercial________________________________________Year built 1987________________________________________Site area (hectares) 0.8________________________________________Lettable area adjusted ('000 m2) 22.2________________________________________Typical floor (m2) 1050________________________________________Car parking 799________________________________________NABERS Energy rating(with GreenPower)


3.0________________________________________NABERS Water rating 3.0________________________________________Major tenant Transport Construction Authority________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $117.3________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $107.5________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.13________________________________________Discount rate (%) 9.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.1________________________________________Available (%) 0________________________________________2013 (%) 21________________________________________2014 (%) 18________________________________________2015 (%) 17________________________________________2016 (%) 3________________________________________2017 (%) 3________________________________________2018 (%) 13________________________________________2019 (%) 4________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 21________________________________________


_11 Talavera Road, MacquariePark_

_

_144 Wicks Road, Macquarie Park_

_

_40-50 Talavera Road, MacquariePark_

_Located in the Macquarie Park corridorapproximately 10kms north of the SydneyCBD, the office park consists of three modernoffice buildings, with two street frontages. Thecomplex is also serviced by a childcare centre,gym and sporting facilities.

_

This 5.9ha development site is located inMacquarie Park surrounded by Epping Road,Wicks Road and Waterloo Road. Masterplanning of the site is in place for a campusstyle office park with DA approvals for the roadnetwork and the first stage office building ofapproximately 27,000sqm.

_

40-50 Talavera Road is a three leveloffice/warehouse building. The property islocated at the corner of Talavera andKhartoum Roads in Macquarie Park. It hasfour different access points, which providefurther flexibility for individual tenancies.

__Details_Metro area Macquarie Park________________________________________Building type Office Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning B7 Business Park & B3 Commercial Core________________________________________Year built 2000________________________________________Site area (hectares) 3.6________________________________________Lettable area adjusted ('000 m2) 35.9________________________________________Car parking 1030________________________________________NABERS Energy rating(with GreenPower)


3.5________________________________________NABERS Water rating 4.0________________________________________Major tenant George Weston Foods________________________________________Acquisition date Jun 2002________________________________________Book value (AU $m) $147.9________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $127.0________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 7.73________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 91________________________________________Weighted lease term by income (year/s) 4.0________________________________________Available (%) 10________________________________________2013 (%) 9________________________________________2014 (%) 19________________________________________2015 (%) 2________________________________________2016 (%) 16________________________________________2017 (%) 20________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 3________________________________________2021 (%) 21________________________________________2022+ (%) 0________________________________________

_Details_Metro area Macquarie Park________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner DEXUS Wholesale Property Fund________________________________________Zoning B7 Business Park & B3 Commercial Core________________________________________Site area (hectares) 5.9________________________________________Acquisition date Nov 2006________________________________________Book value (AU $m) $16.7________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $18.0________________________________________

_Details_Metro area Macquarie Park________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning B7 Business Park________________________________________Year built 1974________________________________________Site area (hectares) 2.5________________________________________Lettable area adjusted ('000 m2) 13.3________________________________________Car parking 314________________________________________NABERS Energy rating(with GreenPower)


1.5________________________________________NABERS Water rating 2.0________________________________________Major tenant BAE Systems Australia________________________________________Acquisition date Oct 2002________________________________________Book value (AU $m) $29.0________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $31.5________________________________________Market cap rate (%) 10.00________________________________________Initial yield (%) 8.88________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 90________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 13________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 51________________________________________2016 (%) 20________________________________________2017 (%) 16________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_1 Bligh Street, Sydney_

_

_201-217 Elizabeth Street, Sydney_

_

_30 The Bond, 30-34 HicksonRoad, Sydney_

_1 Bligh Street is a premium grade high-risebuilding offering 27 levels of officeaccommodation and features a double-skin,glass facade with a naturally ventilated fullheight atrium. Amenities include a cafe,childcare centre, shower facilities, bicycleracks and parking for 92 cars.

_

201-217 Elizabeth Street is a prominent AGrade, 42 level tower comprising 34 levels ofoffice space, lower ground floor retail and on-site security. The office space is column-freeand has floor to ceiling windows that provideabundant natural light and extensive views ofSydney Harbour and Hyde Park.

_

This contemporary office building was the firstin Australia to achieve a 5-star AustralianBuilding Greenhouse Rating. The buildingprovides 10 levels of office space, basementparking for 113 cars and features chilledbeam air-conditioning, an Australian first in2004.

__Details_Metro area Sydney CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 33%________________________________________Co-owner DEXUS Wholesale Property Fund &

Cbus Property________________________________________Zoning City Centre________________________________________Year built 2011________________________________________Site area (hectares) 0.3________________________________________Lettable area adjusted ('000 m2) 14.3________________________________________Typical floor (m2) 1600________________________________________Car parking 92________________________________________Green Star rating 6 Star As Built________________________________________Major tenant Clayton Utz________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $221.2________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $209.7________________________________________Market cap rate (%) 6.38________________________________________Initial yield (%) 4.37________________________________________Discount rate (%) 8.75________________________________________Leased by area (%) 90________________________________________Weighted lease term by income (year/s) 8.9________________________________________Available (%) 12________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 52________________________________________2022+ (%) 36________________________________________

_Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner Perron Investments________________________________________Zoning City Centre________________________________________Year built 1979________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 19.4________________________________________Typical floor (m2) 1085________________________________________Car parking 175________________________________________NABERS Energy rating(with GreenPower)


2.0________________________________________NABERS Water rating 3.0________________________________________Major tenant Phillips Fox________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $148.1________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $144.0________________________________________Market cap rate (%) 7.38________________________________________Initial yield (%) 7.76________________________________________Discount rate (%) 9.13________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 1________________________________________2013 (%) 25________________________________________2014 (%) 3________________________________________2015 (%) 37________________________________________2016 (%) 21________________________________________2017 (%) 1________________________________________2018 (%) 5________________________________________2019 (%) 7________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Centre________________________________________Year built 2004________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 19.7________________________________________Typical floor (m2) 2000________________________________________Car parking 113________________________________________NABERS Energy rating(with GreenPower)


4.5________________________________________NABERS Water rating 3.5________________________________________Major tenant Lend Lease Management Services________________________________________Acquisition date May 2002________________________________________Book value (AU $m) $146.5________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $145.0________________________________________Market cap rate (%) 7.13________________________________________Initial yield (%) 8.00________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 90________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Victoria Cross, 60 Miller Street,North Sydney_

_

_105 Phillip Street, Parramatta_

_

_130 George Street, Parramatta_

_The building comprises 12 levels of officeaccommodation, ground and upper groundretail and three levels of basement parking for180 vehicles. A five storey adjoiningdevelopment was completed in 2009 andsignificant refurbishment to the office buildingincluding new building foyer and liftscompleted in 2012. _

105 Phillip Street is a carpark site (adjacent130 George Street) with development consentfor a 20,000sqm office building with generousground floor amenities.

_

A 16 level office tower with dual frontage andaccess to George and Phillip Streets. Theadjoining site, 105 Phillip Street, provides anopportunity to develop an office tower at therear of the combined site with a centralcourtyard/atrium.

__Details_Metro area North Sydney________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Commercial (3a)________________________________________Year built 1987________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 19.5________________________________________Typical floor (m2) 1150________________________________________Car parking 180________________________________________NABERS Energy rating(with GreenPower)


2.5________________________________________NABERS Water rating 3.5________________________________________Major tenant Carnival________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $141.1________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $135.0________________________________________Market cap rate (%) 7.50________________________________________Initial yield (%) 7.94________________________________________Discount rate (%) 9.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 19________________________________________2016 (%) 14________________________________________2017 (%) 25________________________________________2018 (%) 29________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 1________________________________________2022+ (%) 12________________________________________

_Details_Metro area Parramatta CBD________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Core________________________________________Acquisition date May 1997________________________________________Book value (AU $m) $8.0________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $8.0________________________________________

_Details_Metro area Parramatta CBD________________________________________Building type B Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Core________________________________________Year built 1984________________________________________Site area (hectares) 1.0________________________________________Lettable area adjusted ('000 m2) 19.8________________________________________Typical floor (m2) 1440________________________________________Car parking 359________________________________________NABERS Energy rating(with GreenPower)

Exempt________________________________________NABERS Energy rating(without GreenPower)

Exempt________________________________________NABERS Water rating 3.5________________________________________Major tenant Commonwealth of Australia________________________________________Acquisition date May 1997________________________________________Book value (AU $m) $77.2________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $77.0________________________________________Market cap rate (%) 8.38________________________________________Initial yield (%) 8.81________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.6________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 1________________________________________2015 (%) 21________________________________________2016 (%) 62________________________________________2017 (%) 2________________________________________2018 (%) 1________________________________________2019 (%) 13________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_1 Bligh Street, Sydney_

_

_201-217 Elizabeth Street, Sydney_

_

_30 The Bond, 30-34 HicksonRoad, Sydney_

_1 Bligh Street is a premium grade high-risebuilding offering 27 levels of officeaccommodation and features a double-skin,glass facade with a naturally ventilated fullheight atrium. Amenities include a cafe,childcare centre, shower facilities, bicycleracks and parking for 92 cars.

_

201-217 Elizabeth Street is a prominent AGrade, 42 level tower comprising 34 levels ofoffice space, lower ground floor retail and on-site security. The office space is column-freeand has floor to ceiling windows that provideabundant natural light and extensive views ofSydney Harbour and Hyde Park.

_

This contemporary office building was the firstin Australia to achieve a 5-star AustralianBuilding Greenhouse Rating. The buildingprovides 10 levels of office space, basementparking for 113 cars and features chilledbeam air-conditioning, an Australian first in2004.

__Details_Metro area Sydney CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 33%________________________________________Co-owner DEXUS Wholesale Property Fund &

Cbus Property________________________________________Zoning City Centre________________________________________Year built 2011________________________________________Site area (hectares) 0.3________________________________________Lettable area adjusted ('000 m2) 14.3________________________________________Typical floor (m2) 1600________________________________________Car parking 92________________________________________Green Star rating 6 Star As Built________________________________________Major tenant Clayton Utz________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $221.2________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $209.7________________________________________Market cap rate (%) 6.38________________________________________Initial yield (%) 4.37________________________________________Discount rate (%) 8.75________________________________________Leased by area (%) 90________________________________________Weighted lease term by income (year/s) 8.9________________________________________Available (%) 12________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 52________________________________________2022+ (%) 36________________________________________

_Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner Perron Investments________________________________________Zoning City Centre________________________________________Year built 1979________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 19.4________________________________________Typical floor (m2) 1085________________________________________Car parking 175________________________________________NABERS Energy rating(with GreenPower)


2.0________________________________________NABERS Water rating 3.0________________________________________Major tenant Phillips Fox________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $148.1________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $144.0________________________________________Market cap rate (%) 7.38________________________________________Initial yield (%) 7.76________________________________________Discount rate (%) 9.13________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 1________________________________________2013 (%) 25________________________________________2014 (%) 3________________________________________2015 (%) 37________________________________________2016 (%) 21________________________________________2017 (%) 1________________________________________2018 (%) 5________________________________________2019 (%) 7________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



4.5________________________________________NABERS Water rating 3.5________________________________________Major tenant Lend Lease Management Services________________________________________Acquisition date May 2002________________________________________Book value (AU $m) $146.5________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $145.0________________________________________Market cap rate (%) 7.13________________________________________Initial yield (%) 8.00________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 90________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_309-321 Kent Street, Sydney_

_


_

_44 Market Street, Sydney_

_The two-office tower complex is located in thewestern corridor of the Sydney CBDoverlooking Darling Harbour. The complexcomprises 36 levels of office accommodation,with 19 levels in 321 Kent Street and 17 levelsin Lumley House, a ground level retail plazaand five levels of basement parking.

_

A 14 level A Grade office tower which wascompleted in May 2002. The tower wasconstructed above a large car park. 383 KentStreet is located along the western corridor ofSydney and has dual frontage to Kent andSussex Streets.

_

A 26 level freestanding office tower. Thebuilding is A Grade following a substantialupgrade in 1996. It is located along thewestern corridor of the Sydney CBD at thecorner of Market, York and Clarence Streets.

__Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner AMP________________________________________Zoning City Centre________________________________________Year built 1976________________________________________Site area (hectares) 0.6________________________________________Lettable area adjusted ('000 m2) 23.5________________________________________Typical floor (m2) 1060________________________________________Car parking 497________________________________________NABERS Energy rating(with GreenPower)

309 Kent 5.0 321 Kent 5.0________________________________________NABERS Energy rating(without GreenPower)

309 Kent 4.5 321 Kent 4.5________________________________________NABERS Water rating 309 Kent 3.5 321 Kent 3.5________________________________________Major tenant Promina/Asteron________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $191.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $191.0________________________________________Market cap rate (%) 7.24________________________________________Initial yield (%) 7.76________________________________________Discount rate (%) 9.08________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.7________________________________________Available (%) 2________________________________________2013 (%) 22________________________________________2014 (%) 0________________________________________2015 (%) 8________________________________________2016 (%) 30________________________________________2017 (%) 22________________________________________2018 (%) 3________________________________________2019 (%) 0________________________________________2020 (%) 1________________________________________2021 (%) 0________________________________________2022+ (%) 12________________________________________



4.0________________________________________NABERS Water rating 4.0________________________________________Major tenant Grant Thornton________________________________________Acquisition date Sep 1987________________________________________Book value (AU $m) $134.0________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $133.0________________________________________Market cap rate (%) 7.25________________________________________Initial yield (%) 7.97________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.5________________________________________Available (%) 1________________________________________2013 (%) 23________________________________________2014 (%) 6________________________________________2015 (%) 15________________________________________2016 (%) 27________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 18________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



2.5________________________________________NABERS Water rating 2.5________________________________________Major tenant Commonwealth of Australia________________________________________Acquisition date Sep 1987________________________________________Book value (AU $m) $217.7________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $192.7________________________________________Market cap rate (%) 7.25________________________________________Initial yield (%) 7.80________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.1________________________________________Available (%) 2________________________________________2013 (%) 6________________________________________2014 (%) 8________________________________________2015 (%) 13________________________________________2016 (%) 8________________________________________2017 (%) 12________________________________________2018 (%) 18________________________________________2019 (%) 4________________________________________2020 (%) 7________________________________________2021 (%) 0________________________________________2022+ (%) 22________________________________________


_45 Clarence Street, Sydney_

_

_Australia Square Complex, 264-278 George Street, Sydney_

_

_Governor Phillip & MacquarieTower Complex, 1 Farrer Place,Sydney_ _

A modern A Grade office building located inthe western corridor of the Sydney CBDoverlooking Darling Harbour. This high risebuilding includes 28 levels of officeaccommodation and five levels of basementparking. Major upgrade works to the upperlevels, lobby and lifts were completed in 2005.

_

One of Sydney's prime office properties,designed by Australian architect Harry Seidler,Australia Square is situated in the heart ofSydney's CBD. The complex comprises a 48level circular tower and the smaller 13 levelPlaza building and an adjoining externalcourtyard.

_

Governor Phillip and Macquarie Towercomplex is among Sydney's leading premiumgrade office buildings. GPT is 64 levels ofwhich there are 37 levels of premium officespace and GMT is 42 levels of which there are25 levels of premium office space.

__Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Centre________________________________________Year built 1990________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 32.1________________________________________Typical floor (m2) 1250________________________________________Car parking 162________________________________________NABERS Energy rating(with GreenPower)


5.0________________________________________NABERS Water rating 3.5________________________________________Major tenant Lloyds International________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $250.3________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $247.5________________________________________Market cap rate (%) 7.13________________________________________Initial yield (%) 6.48________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 88________________________________________Weighted lease term by income (year/s) 3.0________________________________________Available (%) 12________________________________________2013 (%) 3________________________________________2014 (%) 5________________________________________2015 (%) 42________________________________________2016 (%) 14________________________________________2017 (%) 17________________________________________2018 (%) 1________________________________________2019 (%) 3________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 3________________________________________

_Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner General Property Trust________________________________________Zoning City Centre________________________________________Year built 1964________________________________________Site area (hectares) 0.6________________________________________Lettable area adjusted ('000 m2) 26.7________________________________________Typical floor (m2) 1020________________________________________Car parking 385________________________________________NABERS Energy rating(with GreenPower)

ASQ Tower 4.5ASQ Plaza5.0________________________________________

NABERS Energy rating(without GreenPower)

ASQ Tower 4.0ASQ Plaza4.5________________________________________

NABERS Water rating ASQ Tower 4.0ASQ Plaza4.0________________________________________

Major tenant Origin Energy________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $271.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $278.8________________________________________Market cap rate (%) 6.92________________________________________Initial yield (%) 6.52________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 87________________________________________Weighted lease term by income (year/s) 3.6________________________________________Available (%) 11________________________________________2013 (%) 15________________________________________2014 (%) 10________________________________________2015 (%) 19________________________________________2016 (%) 12________________________________________2017 (%) 5________________________________________2018 (%) 7________________________________________2019 (%) 5________________________________________2020 (%) 3________________________________________2021 (%) 2________________________________________2022+ (%) 11________________________________________

_Details_Metro area Sydney CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner General Property Trust & Australian

Prime Property Fund________________________________________Zoning City Centre________________________________________Year built 1993________________________________________Site area (hectares) 0.6________________________________________Lettable area adjusted ('000 m2) 43.3________________________________________Typical floor (m2) 1460________________________________________Car parking 654________________________________________NABERS Energy rating(with GreenPower)

GPT 4.5 GMT 4.5________________________________________NABERS Energy rating(without GreenPower)

GPT 3.5 GMT 4.0________________________________________NABERS Water rating GPT 3.5 GMT 3.5________________________________________Major tenant Mallesons________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $651.1________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $643.0________________________________________Market cap rate (%) 6.25________________________________________Initial yield (%) 6.74________________________________________Discount rate (%) 8.66________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 4.2________________________________________Available (%) 0________________________________________2013 (%) 5________________________________________2014 (%) 15________________________________________2015 (%) 19________________________________________2016 (%) 16________________________________________2017 (%) 24________________________________________2018 (%) 5________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 2________________________________________2022+ (%) 14________________________________________



_One Margaret Street, Sydney_

_

_123 Albert Street, Brisbane_

_

_8 Nicholson Street, Melbourne_

_One Margaret Street is located in the westerncorridor of the Sydney CBD overlookingDarling Harbour. The building includes 18levels of A Grade office accommodation andthree levels of car parking for 103 vehicles.The building was completely refurbished in2002.

_

A premium grade office tower designed toacheive a 6 Star Green Star rating and a 5 StarNABERS Energy Rating. The tower comprises26 levels of office space, eight levels of carparking providing 388 car bays in total and anexpansive ground floor lobby area featuringfive retail shops.

_

A freestanding 18 level office tower with threelevels of basement parking. It is located on theeastern edge of the Melbourne CBD close toParliament Station. The property is located in aState/Federal Government precinct.

__Details_Metro area Sydney CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Centre________________________________________Year built 1984________________________________________Site area (hectares) 0.2________________________________________Lettable area adjusted ('000 m2) 21.0________________________________________Typical floor (m2) 1000________________________________________Car parking 103________________________________________NABERS Energy rating(with GreenPower)


4.5________________________________________NABERS Water rating 2.5________________________________________Major tenant PKF Services (NSW)________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $175.3________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $173.5________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 7.84________________________________________Discount rate (%) 9.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 6.9________________________________________Available (%) 0________________________________________2013 (%) 6________________________________________2014 (%) 25________________________________________2015 (%) 3________________________________________2016 (%) 3________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 20________________________________________2021 (%) 0________________________________________2022+ (%) 33________________________________________

_Details_Metro area Brisbane CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Multi Purpose Centre, MPI, City Centre________________________________________Year built 2011________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 39.3________________________________________Typical floor (m2) 1513/1604________________________________________Car parking 388________________________________________Major tenant Rio Tinto________________________________________Acquisition date Oct 1984________________________________________Book value (AU $m) $375.5________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $375.5________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 6.85________________________________________Discount rate (%) 9.25________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 8.7________________________________________Available (%) 2________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 10________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 88________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Business 2 Zone 1 (B2Z)________________________________________Year built 1991________________________________________Site area (hectares) 0.3________________________________________Lettable area adjusted ('000 m2) 23.5________________________________________Typical floor (m2) 1650________________________________________Car parking 91________________________________________NABERS Energy rating(with GreenPower)


3.5________________________________________NABERS Water rating 3.5________________________________________Major tenant State of Victoria________________________________________Acquisition date Nov 1993________________________________________Book value (AU $m) $93.5________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $93.5________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 9.32________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.0________________________________________Available (%) 0________________________________________2013 (%) 100________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_Flinders Gate Complex, 172Flinders Street and 189 FlindersLane, Melbourne_ _

_Southgate Complex, 3 SouthgateAvenue, Southbank_

_

_Woodside Plaza, 240 St GeorgesTerrace, Perth_

_The Flinders Gate Complex comprises twosmall boutique office buildings. They arelocated close to Flinders Street Station,Swanston Street and, in the case of 172Flinders Street, opposite Federation Square.

_

The Southgate Complex is a landmark officeand retail property, located on the Yarra Riverin the Southbank arts and leisure precinct ofMelbourne. The complex comprises two high-quality office towers, HWT Tower and IBMCentre, a three level retail plaza and two levelsof underground car parking.

_

Woodside Plaza is one of Perth's fourpremium-grade office buildings, located in aprime position along the northern side of StGeorges Terrace. The building comprisespremium office space over 24 levels, a groundfloor retail arcade and basement parking for247 cars.

__Details_Metro area Melbourne CBD________________________________________Building type B Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone (CCZ1)________________________________________Year built 1920________________________________________Site area (hectares) 0.4________________________________________Lettable area adjusted ('000 m2) 8.8________________________________________Typical floor (m2) 650________________________________________NABERS Energy rating(with GreenPower)

172 Flinders 3.0 189Flinders 3.5________________________________________

NABERS Energy rating(without GreenPower)

172 Flinders 2.5 189Flinders 3.0________________________________________

NABERS Water rating 172 Flinders 3.0 189Flinders 1.0________________________________________

Major tenant Film Victoria________________________________________Acquisition date Mar 1999________________________________________Book value (AU $m) $28.1________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $28.5________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.20________________________________________Discount rate (%) 9.25________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 1.2________________________________________Available (%) 1________________________________________2013 (%) 52________________________________________2014 (%) 24________________________________________2015 (%) 14________________________________________2016 (%) 9________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type A Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone (CCZ1)________________________________________Year built 1992________________________________________Site area (hectares) 2.1________________________________________Lettable area adjusted ('000 m2) 76.5________________________________________Typical floor (m2) 1250________________________________________Car parking 1041________________________________________NABERS Energy rating(with GreenPower)

IBM 4.0 HWT 4.0________________________________________NABERS Energy rating(without GreenPower)

IBM 3.5 HWT 3.5________________________________________NABERS Water rating IBM 4.0 HWT 3.5________________________________________Major tenant IBM Australia Limited________________________________________Acquisition date Aug 2000________________________________________Book value (AU $m) $418.4________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $418.4________________________________________Market cap rate (%) 7.74________________________________________Initial yield (%) 8.15________________________________________Discount rate (%) 9.37________________________________________Leased by area (%) 98________________________________________Weighted lease term by income (year/s) 4.8________________________________________Available (%) 2________________________________________2013 (%) 5________________________________________2014 (%) 6________________________________________2015 (%) 4________________________________________2016 (%) 35________________________________________2017 (%) 10________________________________________2018 (%) 4________________________________________2019 (%) 18________________________________________2020 (%) 1________________________________________2021 (%) 3________________________________________2022+ (%) 12________________________________________

_Details_Metro area Perth CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Central City Area, St Georges________________________________________Year built 2003________________________________________Site area (hectares) 0.6________________________________________Lettable area adjusted ('000 m2) 47.3________________________________________Typical floor (m2) 2000________________________________________Car parking 247________________________________________NABERS Energy rating(with GreenPower)


3.0________________________________________NABERS Water rating 2.5________________________________________Major tenant Woodside Energy________________________________________Acquisition date Jan 2001________________________________________Book value (AU $m) $460.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $460.0________________________________________Market cap rate (%) 7.75________________________________________Initial yield (%) 6.90________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.1________________________________________Available (%) 1________________________________________2013 (%) 0________________________________________2014 (%) 18________________________________________2015 (%) 9________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 71________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 1________________________________________




_

__

_

__

_A 785 bay car park below a 14 level officetower located along the western corridor of theSydney CBD, which has dual street frontagewith Kent and Sussex Streets.

_ _ __Details_Metro area Sydney CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Centre________________________________________Year built 1977________________________________________Car parking 785________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Sep 1987________________________________________Book value (AU $m) $64.0________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $64.0________________________________________Market cap rate (%) 7.75________________________________________Initial yield (%) 8.67________________________________________Discount rate (%) 10.38________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________


_

__

_

__

_A 785 bay car park below a 14 level officetower located along the western corridor of theSydney CBD, which has dual street frontagewith Kent and Sussex Streets.

_ _ __Details_Metro area Sydney CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning City Centre________________________________________Year built 1977________________________________________Car parking 785________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Sep 1987________________________________________Book value (AU $m) $64.0________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $64.0________________________________________Market cap rate (%) 7.75________________________________________Initial yield (%) 8.67________________________________________Discount rate (%) 10.38________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________

_Lumley Centre, 88 ShortlandStreet, Auckland_

_

__

_

__

_A premium grade office tower comprising 15levels of office accommodation located withinthe Auckland CBD which was completed inOctober 2005. The tower offers views ofAuckland Harbour from upper levels.

_ _ __Details_Metro area Auckland CBD________________________________________Building type Premium Grade Office________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Central Area District, Strategic Management

Area 1________________________________________Year built 2005________________________________________Site area (hectares) 0.5________________________________________Lettable area adjusted ('000 m2) 19.6________________________________________Typical floor (m2) 1300________________________________________Car parking 194________________________________________Major tenant Simpson Grierson________________________________________Acquisition date Sep 2005________________________________________Book value (NZ $m) $123.3________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (NZ $m) $128.5________________________________________Market cap rate (%) 8.50________________________________________Initial yield (%) 8.38________________________________________Discount rate (%) 10.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 31________________________________________2016 (%) 25________________________________________2017 (%) 0________________________________________2018 (%) 44________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_32-44 Flinders Street, Melbourne_

_

_34-60 Little Collins Street,Melbourne_

_

_Flinders Gate Complex, 172Flinders Street, Melbourne_

_A 539 bay car park built over 10 levelsconstructed in 1998. It services residentialand office patrons, as well as entertainment,including the MCG, Melbourne Park andFederation Square. It has dual access toFlinders Street and Flinders Lane.

_

A 942 bay freestanding car park, with a cafeand rental car outlet on the ground floor. It islocated in the eastern corridor of theMelbourne CBD providing convenient accessto Melbourne's premium office andentertainment precincts. It has dual access toBourke and Little Collins Streets.

_

A 1,071 bay car park attached to two smalloffice buildings located centrally in theMelbourne CBD diagonally opposite FlindersStreet Railway Station and directly oppositeFederation Square. It has dual access toFlinders Street and Flinders Lane.

__Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone 1________________________________________Year built 1998________________________________________Car parking 539________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Jun 1998________________________________________Book value (AU $m) $29.9________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $29.5________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 7.35________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 8.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 3________________________________________2015 (%) 1________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 33________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 63________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Leasehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone________________________________________Year built 1965________________________________________Car parking 942________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Nov 1984________________________________________Book value (AU $m) $39.3________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $39.2________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 9.92________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 9.8________________________________________Available (%) 1________________________________________2013 (%) 0________________________________________2014 (%) 1________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 98________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone 1________________________________________Year built 1998________________________________________Car parking 1071________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Mar 1999________________________________________Book value (AU $m) $54.0________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $54.0________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 8.82________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________


_32-44 Flinders Street, Melbourne_

_

_34-60 Little Collins Street,Melbourne_

_

_Flinders Gate Complex, 172Flinders Street, Melbourne_

_A 539 bay car park built over 10 levelsconstructed in 1998. It services residentialand office patrons, as well as entertainment,including the MCG, Melbourne Park andFederation Square. It has dual access toFlinders Street and Flinders Lane.

_

A 942 bay freestanding car park, with a cafeand rental car outlet on the ground floor. It islocated in the eastern corridor of theMelbourne CBD providing convenient accessto Melbourne's premium office andentertainment precincts. It has dual access toBourke and Little Collins Streets.

_

A 1,071 bay car park attached to two smalloffice buildings located centrally in theMelbourne CBD diagonally opposite FlindersStreet Railway Station and directly oppositeFederation Square. It has dual access toFlinders Street and Flinders Lane.

__Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone 1________________________________________Year built 1998________________________________________Car parking 539________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Jun 1998________________________________________Book value (AU $m) $29.9________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $29.5________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 7.35________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 8.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 3________________________________________2015 (%) 1________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 33________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 63________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Leasehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone________________________________________Year built 1965________________________________________Car parking 942________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Nov 1984________________________________________Book value (AU $m) $39.3________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $39.2________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 9.92________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 9.8________________________________________Available (%) 1________________________________________2013 (%) 0________________________________________2014 (%) 1________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 98________________________________________

_Details_Metro area Melbourne CBD________________________________________Building type Carpark________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Capital City Zone 1________________________________________Year built 1998________________________________________Car parking 1071________________________________________Major tenant S & K Car Park Management________________________________________Acquisition date Mar 1999________________________________________Book value (AU $m) $54.0________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $54.0________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 8.82________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________


Quarry Industrial Estate, 2-6 Basalt Road, Greystanes, NSW

AUSTRALIAN INDUSTRIAL PORTFOLIO

KEY PORTFOLIO STATISTICSTotal value $1.7bn (2011: $1.6bn)



Total gross lettable area 1,194,309 sqm (2011: 1,125,300 sqm)

Number of tenants 261 (2011: 293)





SYDNEY


28 properties

MELBOURNE


12 properties

BRISBANE


4 properties

ADELAIDE


1 property


Distribution Centres 19%

Business Parks 32%

Industrial Estates 41%

Data Centre 3%

Land 5%

Geographical weighting by book value

Adelaide & Brisbane 4.9%

Melbourne 35.2%

Sydney 59.9%

Diversity of tenants by income

Manufacturing 19%

Transport & Storage 21%

Wholesale Trade 27%

Property & Business 15%

Agriculture 5%

Other 13%


8.8

% 11.

4%

8.3

%

7.2

%

13.

3%

13.

6%

10.

8%

12.

1%

5.8

%

7.4

%

17.

8%

17.

3%

7.5

%

6.4

%

4.5

%

6.2

%

4.4

%

3.5

%

3.7

%

3.5

%

13.

0%

7.7

%

2.1

%

3.7

%

Vaca

nt

FY1

3

FY1

4

FY1

5

FY1

6

FY1

7

FY1

8

FY1

9

FY2

0

FY2

1

FY2

2

FY2

3+

Income

Area

Values exclude inventory of $97.8 million. % of Australian Portfolio.

SYDNEY

BRISBANE

MELBOURNE

ADELAIDE







Acquisition date


(A$m)6


date


(A$m)

Cap rate(%)7

Leased by Area

(%)

Weighted average


(years)


(A$m)

79-99 St Hilliers Road, Auburn NSW Sydney, Inner West Business Park 100 25.9 Sep 97 37.52 Dec 11 37.50 9.00 91 1.3 2.8

145-151 Arthur Street, Flemington NSW Sydney, Inner West Business Park 100 19.2 Sep 97 28.47 Jun 11 28.00 8.75 86 2.6 2.6

10-16 South Street, Rydalmere NSW Sydney, Inner West Industrial Estate 100 34.9 Sep 97 40.70 Jun 11 39.25 9.00 82 2.1 2.9

Centrewest Industrial Estate, Silverwater NSW Sydney, Inner West Industrial Estate 100 17.8 May 10 24.30 May 10 24.43 8.75 87 2.7 2.1

DEXUS Industrial Estate, Egerton Street, Silverwater NSW Sydney, Inner West Industrial Estate 100 29.3 May 97 39.00 Jun 12 39.00 8.75 66 3.1 2.5

1 Garigal Road, Belrose NSW Sydney, North Business Park 100 12.7 Dec 98 16.30 Jun 12 16.25 10.00 41 0.8 0.1

2 Minna Close, Belrose NSW Sydney, North Business Park 100 13.4 Dec 98 24.00 Jun 12 24.00 10.50 60 1.8 2.0

114-120 Old Pittwater Road, Brookvale8 NSW Sydney, North Business Park 100 30.6 Sep 97 40.50 Dec 11 45.50 9.25 100 4.2 4.1

436-484 Victoria Road, Gladesville NSW Sydney, North Business Park 100 19.7 Sep 97 41.68 Dec 11 41.50 9.00 84 2.3 3.6

12 Frederick Street, St Leonards NSW Sydney, North Industrial Estate 100 19.3 Jul 00 33.87 Jun 11 33.50 8.75 100 2.0 3.1

52 Holbeche Road, Arndell Park NSW Sydney, Outer West Distribution Centre 100 9.6 Jul 98 12.50 Jun 12 12.50 8.75 100 2.1 1.0

3 Brookhollow Avenue, Baulkham Hills5 NSW Sydney, Outer West Data Centre 100 13.4 Dec 02 52.00 Jun 12 52.00 8.50 100 6.3 4.3

30-32 Bessemer Street, Blacktown NSW Sydney, Outer West Distribution Centre 100 14.7 May 97 15.61 Jun 11 16.25 9.25 100 8.2 1.1

2 Alspec Place, Eastern Creek NSW Sydney, Outer West Distribution Centre 100 16.9 Mar 04 24.90 Dec 11 24.90 8.25 100 2.8 2.2

57-75 Templar Road, Erskine Park2, 3 NSW Sydney, Outer West Land 100 – Jun 12 – – – – 0 0 0.0

1 Foundation Place, Greystanes NSW Sydney, Outer West Industrial Estate 100 30.8 Feb 03 43.26 Jun 10 41.50 8.25 100 2.6 3.8

Quarry Industrial Estate, 2-6 Basalt Road, Greystanes NSW Sydney, Outer West Industrial Estate 100 23.3 Dec 07 29.80 – – 8.25 46 2.3 0.1

Quarry Industrial Estate, 5 Basalt Road, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 5.4 Dec 07 7.80 – – 8.15 100 7.5 0.0

Quarry Industrial Estate, 5 Bellevue Circuit, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 17.3 Dec 07 32.10 Jun 12 32.10 7.75 100 14.2 3.0

Quarry Industrial Estate, 6 Bellevue Circuit, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 17.0 Dec 07 40.00 May 10 39.00 8.00 100 14.8 3.1

Quarry Industrial Estate, 8 Basalt Road, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 18.7 Dec 07 25.25 Dec 11 25.25 8.00 100 8.7 1.9

Quarry Industrial Estate, Reconciliation Drive, Greystanes NSW Sydney, Outer West Land 100 – Dec 07 70.60 Jun 12 70.75 – 0 0 0.1

27-29 Liberty Road, Huntingwood NSW Sydney, Outer West Distribution Centre 100 6.8 Jul 98 8.03 Dec 10 8.00 8.50 100 0.4 0.7

Kings Park Industrial Estate, Vardys Road, Marayong NSW Sydney, Outer West Industrial Estate 100 68.9 May 90 89.01 Dec 09 88.00 8.25 100 3.5 8.0

154 O'Riordan Street, Mascot NSW Sydney, South Industrial Estate 100 8.2 Jun 97 14.33 Jun 11 13.75 8.00 100 4.0 1.1

2-4 Military Road, Matraville NSW Sydney, South Industrial Estate 100 30.2 Dec 09 52.90 Jun 12 52.90 8.50 100 6.2 4.5

25-55 Rothschild Avenue, Rosebery NSW Sydney, South Business Park 100 16.8 Oct 01 32.93 Dec 10 32.50 8.25 100 1.0 2.4

5-15 Rosebery Avenue, Rosebery NSW Sydney, South Business Park 100 27.3 Apr 98 57.91 Dec 10 56.50 8.25 97 4.1 3.9

94-106 Lenore Drive, Erskine Park1 NSW 0.3

30 Bellrick Street, Acacia Ridge QLD Brisbane Distribution Centre 100 17.8 Jun 97 20.33 Jun 10 19.60 9.00 100 3.1 2.0

57-101 Balham Road, Archerfield QLD Brisbane Industrial Estate 100 24.5 Nov 10 – – – – 79 2.9 1.8

3676 Ipswich Road, Wacol3 QLD Brisbane Land 100 – Nov 11 – – – – 0 0 0.0

25 Donkin Street, West End, Brisbane QLD Brisbane Business Park 100 10.9 Dec 98 29.40 Dec 10 27.00 8.00 89 1.6 2.0

15-23 Whicker Road, Gillman SA Adelaide Distribution Centre 100 72.1 Dec 02 27.30 Dec 10 25.50 10.00 43 1.6 2.5

1 Asset sold during the period (whole or partial sale).

2 New whole or partial acquisition in the period.

3 Vacant land.

4 Property to form part of the capital partnership.

5 Book values include development properties held as investment property.



8 Post balance date property sale.






Acquisition date


(A$m)6


date


(A$m)

Cap rate(%)7

Leased by Area

(%)

Weighted average


(years)


(A$m)

79-99 St Hilliers Road, Auburn NSW Sydney, Inner West Business Park 100 25.9 Sep 97 37.52 Dec 11 37.50 9.00 91 1.3 2.8

145-151 Arthur Street, Flemington NSW Sydney, Inner West Business Park 100 19.2 Sep 97 28.47 Jun 11 28.00 8.75 86 2.6 2.6

10-16 South Street, Rydalmere NSW Sydney, Inner West Industrial Estate 100 34.9 Sep 97 40.70 Jun 11 39.25 9.00 82 2.1 2.9

Centrewest Industrial Estate, Silverwater NSW Sydney, Inner West Industrial Estate 100 17.8 May 10 24.30 May 10 24.43 8.75 87 2.7 2.1

DEXUS Industrial Estate, Egerton Street, Silverwater NSW Sydney, Inner West Industrial Estate 100 29.3 May 97 39.00 Jun 12 39.00 8.75 66 3.1 2.5

1 Garigal Road, Belrose NSW Sydney, North Business Park 100 12.7 Dec 98 16.30 Jun 12 16.25 10.00 41 0.8 0.1

2 Minna Close, Belrose NSW Sydney, North Business Park 100 13.4 Dec 98 24.00 Jun 12 24.00 10.50 60 1.8 2.0

114-120 Old Pittwater Road, Brookvale8 NSW Sydney, North Business Park 100 30.6 Sep 97 40.50 Dec 11 45.50 9.25 100 4.2 4.1

436-484 Victoria Road, Gladesville NSW Sydney, North Business Park 100 19.7 Sep 97 41.68 Dec 11 41.50 9.00 84 2.3 3.6

12 Frederick Street, St Leonards NSW Sydney, North Industrial Estate 100 19.3 Jul 00 33.87 Jun 11 33.50 8.75 100 2.0 3.1

52 Holbeche Road, Arndell Park NSW Sydney, Outer West Distribution Centre 100 9.6 Jul 98 12.50 Jun 12 12.50 8.75 100 2.1 1.0

3 Brookhollow Avenue, Baulkham Hills5 NSW Sydney, Outer West Data Centre 100 13.4 Dec 02 52.00 Jun 12 52.00 8.50 100 6.3 4.3

30-32 Bessemer Street, Blacktown NSW Sydney, Outer West Distribution Centre 100 14.7 May 97 15.61 Jun 11 16.25 9.25 100 8.2 1.1

2 Alspec Place, Eastern Creek NSW Sydney, Outer West Distribution Centre 100 16.9 Mar 04 24.90 Dec 11 24.90 8.25 100 2.8 2.2

57-75 Templar Road, Erskine Park2, 3 NSW Sydney, Outer West Land 100 – Jun 12 – – – – 0 0 0.0

1 Foundation Place, Greystanes NSW Sydney, Outer West Industrial Estate 100 30.8 Feb 03 43.26 Jun 10 41.50 8.25 100 2.6 3.8

Quarry Industrial Estate, 2-6 Basalt Road, Greystanes NSW Sydney, Outer West Industrial Estate 100 23.3 Dec 07 29.80 – – 8.25 46 2.3 0.1

Quarry Industrial Estate, 5 Basalt Road, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 5.4 Dec 07 7.80 – – 8.15 100 7.5 0.0

Quarry Industrial Estate, 5 Bellevue Circuit, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 17.3 Dec 07 32.10 Jun 12 32.10 7.75 100 14.2 3.0

Quarry Industrial Estate, 6 Bellevue Circuit, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 17.0 Dec 07 40.00 May 10 39.00 8.00 100 14.8 3.1

Quarry Industrial Estate, 8 Basalt Road, Greystanes4 NSW Sydney, Outer West Industrial Estate 100 18.7 Dec 07 25.25 Dec 11 25.25 8.00 100 8.7 1.9

Quarry Industrial Estate, Reconciliation Drive, Greystanes NSW Sydney, Outer West Land 100 – Dec 07 70.60 Jun 12 70.75 – 0 0 0.1

27-29 Liberty Road, Huntingwood NSW Sydney, Outer West Distribution Centre 100 6.8 Jul 98 8.03 Dec 10 8.00 8.50 100 0.4 0.7

Kings Park Industrial Estate, Vardys Road, Marayong NSW Sydney, Outer West Industrial Estate 100 68.9 May 90 89.01 Dec 09 88.00 8.25 100 3.5 8.0

154 O'Riordan Street, Mascot NSW Sydney, South Industrial Estate 100 8.2 Jun 97 14.33 Jun 11 13.75 8.00 100 4.0 1.1

2-4 Military Road, Matraville NSW Sydney, South Industrial Estate 100 30.2 Dec 09 52.90 Jun 12 52.90 8.50 100 6.2 4.5

25-55 Rothschild Avenue, Rosebery NSW Sydney, South Business Park 100 16.8 Oct 01 32.93 Dec 10 32.50 8.25 100 1.0 2.4

5-15 Rosebery Avenue, Rosebery NSW Sydney, South Business Park 100 27.3 Apr 98 57.91 Dec 10 56.50 8.25 97 4.1 3.9

94-106 Lenore Drive, Erskine Park1 NSW 0.3

30 Bellrick Street, Acacia Ridge QLD Brisbane Distribution Centre 100 17.8 Jun 97 20.33 Jun 10 19.60 9.00 100 3.1 2.0

57-101 Balham Road, Archerfield QLD Brisbane Industrial Estate 100 24.5 Nov 10 – – – – 79 2.9 1.8

3676 Ipswich Road, Wacol3 QLD Brisbane Land 100 – Nov 11 – – – – 0 0 0.0

25 Donkin Street, West End, Brisbane QLD Brisbane Business Park 100 10.9 Dec 98 29.40 Dec 10 27.00 8.00 89 1.6 2.0

15-23 Whicker Road, Gillman SA Adelaide Distribution Centre 100 72.1 Dec 02 27.30 Dec 10 25.50 10.00 43 1.6 2.5






Acquisition date


(A$m)6


date


(A$m)

Cap rate(%)7

Leased by Area

(%)

Weighted average


(years)


(A$m)

114 Fairbank Road, Clayton VIC Melbourne, South East Distribution Centre 100 18.6 Jul 97 15.21 Dec 10 14.90 9.00 100 7.3 1.3

DEXUS Industrial Estate, Pound Road West, Dandenong South VIC Melbourne, South East Industrial Estate 100 78.8 Jan 04 74.45 Dec 11 72.00 8.39 100 3.2 6.1

Knoxfield Industrial Estate, Henderson Road, Knoxfield VIC Melbourne, South East Distribution Centre 100 48.7 Aug 96 37.70 Jun 11 37.60 8.75 100 2.1 3.1

Axxess Corporate Park, Corner Ferntree Gully & Gilby Roads, Mount Waverley VIC Melbourne, South East Business Park 100 84.8 Oct 96 182.84 Jun 10 179.40 8.43 97 2.7 15.5

250 Forest Road South, Lara VIC Melbourne, South West Distribution Centre 100 117.3 Dec 02 52.30 Jun 12 52.30 9.25 100 11.0 4.4

Target Distribution Centre, Tarras Road, Altona North4 VIC Melbourne, West Distribution Centre 100 41.4 Oct 95 32.60 Jun 11 32.50 9.00 100 4.8 3.8

12-18 Distribution Drive, Laverton North VIC Melbourne, West Distribution Centre 50 10.7 Jul 02 50.44 Jun 10 48.00 8.50 100 9.8 4.7

2-10 Distribution Drive, Laverton North4 VIC Melbourne, West Industrial Estate 50 8.7 Jul 02 7.04 – – 8.25 100 4.4 0.7

25 Distribution Drive, Laverton North4 VIC Melbourne, West Industrial Estate 50 7.8 Jul 02 5.87 – – 8.25 100 1.9 0.0


DEXUS Industrial Estate, Boundary Road, Laverton North VIC Melbourne, West Land 100 Jul 02 11.02 Jun 12 11.02 – 0 0 0.1

DEXUS Industrial Estate, Boundary Road, Laverton North4 VIC Melbourne, West Industrial Estate 100 86.6 Jul 02 73.75 Jun 12 73.75 8.31 100 5.9 5.2


2 New whole or partial acquisition in the period.

3 Vacant land.

4 Property to form part of the capital partnership.




8 Post balance date property sale.





Acquisition date


(A$m)6


date


(A$m)

Cap rate(%)7

Leased by Area

(%)

Weighted average


(years)


(A$m)

114 Fairbank Road, Clayton VIC Melbourne, South East Distribution Centre 100 18.6 Jul 97 15.21 Dec 10 14.90 9.00 100 7.3 1.3

DEXUS Industrial Estate, Pound Road West, Dandenong South VIC Melbourne, South East Industrial Estate 100 78.8 Jan 04 74.45 Dec 11 72.00 8.39 100 3.2 6.1

Knoxfield Industrial Estate, Henderson Road, Knoxfield VIC Melbourne, South East Distribution Centre 100 48.7 Aug 96 37.70 Jun 11 37.60 8.75 100 2.1 3.1

Axxess Corporate Park, Corner Ferntree Gully & Gilby Roads, Mount Waverley VIC Melbourne, South East Business Park 100 84.8 Oct 96 182.84 Jun 10 179.40 8.43 97 2.7 15.5

250 Forest Road South, Lara VIC Melbourne, South West Distribution Centre 100 117.3 Dec 02 52.30 Jun 12 52.30 9.25 100 11.0 4.4

Target Distribution Centre, Tarras Road, Altona North4 VIC Melbourne, West Distribution Centre 100 41.4 Oct 95 32.60 Jun 11 32.50 9.00 100 4.8 3.8

12-18 Distribution Drive, Laverton North VIC Melbourne, West Distribution Centre 50 10.7 Jul 02 50.44 Jun 10 48.00 8.50 100 9.8 4.7

2-10 Distribution Drive, Laverton North4 VIC Melbourne, West Industrial Estate 50 8.7 Jul 02 7.04 – – 8.25 100 4.4 0.7



DEXUS Industrial Estate, Boundary Road, Laverton North VIC Melbourne, West Land 100 Jul 02 11.02 Jun 12 11.02 – 0 0 0.1

DEXUS Industrial Estate, Boundary Road, Laverton North4 VIC Melbourne, West Industrial Estate 100 86.6 Jul 02 73.75 Jun 12 73.75 8.31 100 5.9 5.2



_79-99 St Hilliers Road, Auburn_

_

_145-151 Arthur Street,Flemington_

_

_10-16 South Street, Rydalmere_

_St Hilliers Estate is situated on the southeastern side of Parramatta Rd and St HilliersRoad at Auburn, approximately 20kms west ofthe Sydney CBD and 4kms south-east of theParramatta CBD. Entry and exit points to theM4 Motorway are situated 400 metres to thenorth.

_

Flemington is approximately 16kms west ofthe Sydney CBD and eight kms east ofParramatta's CBD. The property forms part ofan established inner west industrial precinctand has good exposure and access to ArthurStreet and major traffic arteries in westernSydney.

_

The property is located towards the westernend of South Street, with the Parramatta Riverlocated at the southern boundary of theproperty. Rydalmere is an inner westernsuburb of Sydney located approximately fourkms north of the M4 Motorway and 20kmswest of the Sydney CBD.

__Details_Metro area Sydney, Inner West________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(c) Industrial Enterprise________________________________________Year built 1989________________________________________Site area (hectares) 3.5________________________________________Lettable area adjusted ('000 m2) 25.9________________________________________Site coverage (%) 74________________________________________Number of buildings 2________________________________________Number of units 15________________________________________Average unit size ('000 m2) 1.7________________________________________Office content (%) 43________________________________________Car parking 466________________________________________Major tenant Legrand Australia PL________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $37.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $37.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 8.10________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 91________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 7________________________________________2013 (%) 52________________________________________2014 (%) 25________________________________________2015 (%) 0________________________________________2016 (%) 8________________________________________2017 (%) 0________________________________________2018 (%) 8________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Inner West________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 4________________________________________Year built 1985________________________________________Site area (hectares) 3.2________________________________________Lettable area adjusted ('000 m2) 19.2________________________________________Site coverage (%) 60________________________________________Number of buildings 2________________________________________Number of units 10________________________________________Average unit size ('000 m2) 1.9________________________________________Office content (%) 56________________________________________Car parking 401________________________________________Major tenant AWA Limited________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $28.5________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $28.0________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 8.58________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 86________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 12________________________________________2013 (%) 16________________________________________2014 (%) 14________________________________________2015 (%) 26________________________________________2016 (%) 0________________________________________2017 (%) 32________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Inner West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Technology and Enterprise________________________________________Year built 1980________________________________________Site area (hectares) 5.3________________________________________Lettable area adjusted ('000 m2) 34.9________________________________________Site coverage (%) 66________________________________________Number of buildings 6________________________________________Number of units 22________________________________________Average unit size ('000 m2) 1.6________________________________________Office content (%) 36________________________________________Car parking 476________________________________________Major tenant Kawasaki Motors________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $40.7________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $39.3________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 7.53________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 82________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 16________________________________________2013 (%) 22________________________________________2014 (%) 13________________________________________2015 (%) 7________________________________________2016 (%) 18________________________________________2017 (%) 24________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_Centrewest Industrial Estate,Silverwater_

_

_DEXUS Industrial Estate, EgertonStreet, Silverwater_

_

_1 Garigal Road, Belrose_

_The property is located on Silverwater Roadadjacent to DEXUS Industrial Estate (EgertonStreet) and comprises a six building industrialestate with 12 individual units. Six of the unitsfront onto Silverwater Road with warehouseand parking access to the rear, another fourunits front Vore Street at the rear.

_

The industrial estate is located on Egerton andFariola Street which are in close proximity toSilverwater Road. Silverwater is one ofSydney's premier inner west industrialprecincts with excellent access to majorarterial roads such as Victoria Road, the M4Motorway and Parramatta Road.

_

The property is situated on the south westerncorner of the intersection of Garigal Road andForest Way at Belrose within Austlink BusinessPark. Austlink Business Park is locatedapproximately 24kms north west of the SydneyCBD.

__Details_Metro area Sydney, Inner West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industrial 4(a)________________________________________Year built 1988________________________________________Site area (hectares) 2.4________________________________________Lettable area adjusted ('000 m2) 17.8________________________________________Site coverage (%) 74________________________________________Number of buildings 6________________________________________Number of units 12________________________________________Average unit size ('000 m2) 1.5________________________________________Office content (%) 48________________________________________Car parking 270________________________________________Major tenant Christian City Church________________________________________Acquisition date May 2010________________________________________Book value (AU $m) $24.3________________________________________Independent valuation date May 2010________________________________________Independent valuation (AU $m) $24.4________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 7.96________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 87________________________________________Weighted lease term by income (year/s) 2.7________________________________________Available (%) 12________________________________________2013 (%) 13________________________________________2014 (%) 30________________________________________2015 (%) 5________________________________________2016 (%) 22________________________________________2017 (%) 0________________________________________2018 (%) 5________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 13________________________________________

_Details_Metro area Sydney, Inner West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industrial 4(a)________________________________________Year built 1969________________________________________Site area (hectares) 8.8________________________________________Lettable area adjusted ('000 m2) 29.3________________________________________Site coverage (%) 33________________________________________Number of buildings 9________________________________________Number of units 9________________________________________Average unit size ('000 m2) 3.3________________________________________Office content (%) 30________________________________________Car parking 290________________________________________Major tenant Payless Shoes PL________________________________________Acquisition date May 1997________________________________________Book value (AU $m) $39.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $39.0________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 4.79________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 66________________________________________Weighted lease term by income (year/s) 3.1________________________________________Available (%) 29________________________________________2013 (%) 9________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 39________________________________________2018 (%) 23________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning B7 Business Park________________________________________Year built 1992________________________________________Site area (hectares) 2.6________________________________________Lettable area adjusted ('000 m2) 12.7________________________________________Site coverage (%) 49________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 m2) 6.3________________________________________Office content (%) 48________________________________________Car parking 300________________________________________Major tenant Brightpoint Australia PL________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $16.3________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $16.3________________________________________Market cap rate (%) 10.00________________________________________Initial yield (%) 2.07________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 41________________________________________Weighted lease term by income (year/s) 0.8________________________________________Available (%) 69________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 31________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_79-99 St Hilliers Road, Auburn_

_

_145-151 Arthur Street,Flemington_

_

_10-16 South Street, Rydalmere_

_St Hilliers Estate is situated on the southeastern side of Parramatta Rd and St HilliersRoad at Auburn, approximately 20kms west ofthe Sydney CBD and 4kms south-east of theParramatta CBD. Entry and exit points to theM4 Motorway are situated 400 metres to thenorth.

_

Flemington is approximately 16kms west ofthe Sydney CBD and eight kms east ofParramatta's CBD. The property forms part ofan established inner west industrial precinctand has good exposure and access to ArthurStreet and major traffic arteries in westernSydney.

_

The property is located towards the westernend of South Street, with the Parramatta Riverlocated at the southern boundary of theproperty. Rydalmere is an inner westernsuburb of Sydney located approximately fourkms north of the M4 Motorway and 20kmswest of the Sydney CBD.

__Details_Metro area Sydney, Inner West________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(c) Industrial Enterprise________________________________________Year built 1989________________________________________Site area (hectares) 3.5________________________________________Lettable area adjusted ('000 m2) 25.9________________________________________Site coverage (%) 74________________________________________Number of buildings 2________________________________________Number of units 15________________________________________Average unit size ('000 m2) 1.7________________________________________Office content (%) 43________________________________________Car parking 466________________________________________Major tenant Legrand Australia PL________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $37.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $37.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 8.10________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 91________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 7________________________________________2013 (%) 52________________________________________2014 (%) 25________________________________________2015 (%) 0________________________________________2016 (%) 8________________________________________2017 (%) 0________________________________________2018 (%) 8________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Inner West________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 4________________________________________Year built 1985________________________________________Site area (hectares) 3.2________________________________________Lettable area adjusted ('000 m2) 19.2________________________________________Site coverage (%) 60________________________________________Number of buildings 2________________________________________Number of units 10________________________________________Average unit size ('000 m2) 1.9________________________________________Office content (%) 56________________________________________Car parking 401________________________________________Major tenant AWA Limited________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $28.5________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $28.0________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 8.58________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 86________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 12________________________________________2013 (%) 16________________________________________2014 (%) 14________________________________________2015 (%) 26________________________________________2016 (%) 0________________________________________2017 (%) 32________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Inner West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Technology and Enterprise________________________________________Year built 1980________________________________________Site area (hectares) 5.3________________________________________Lettable area adjusted ('000 m2) 34.9________________________________________Site coverage (%) 66________________________________________Number of buildings 6________________________________________Number of units 22________________________________________Average unit size ('000 m2) 1.6________________________________________Office content (%) 36________________________________________Car parking 476________________________________________Major tenant Kawasaki Motors________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $40.7________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $39.3________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 7.53________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 82________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 16________________________________________2013 (%) 22________________________________________2014 (%) 13________________________________________2015 (%) 7________________________________________2016 (%) 18________________________________________2017 (%) 24________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_2 Minna Close, Belrose_

_

_114-120 Old Pittwater Road,Brookvale_

_

_436-484 Victoria Road,Gladesville_

_The property is located in the AustlinkBusiness Park in Belrose, 24kms north west ofthe Sydney CBD. It has access from MinnaClose and frontage to Mona Vale Road, amajor ring road from the northern suburbs ofSydney to the western and southern regions.

_

The property comprises two buildings and islocated in Brookvale, a northern suburb ofSydney, 15kms from the CBD. The landmeaures 4.2 hectares over two lots and hasgood access to Pittwater Road, a mainthoroughfare between the northern beachesand the CBD.

_

The property is located in a prominent positionon the intersection of Victoria Road andTennyson Road, Gladesville, approximately10kms north west of the Sydney CBD and11kms east of the Parramatta CBD.

__Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning B7 Business Park________________________________________Year built 1993________________________________________Site area (hectares) 2.6________________________________________Lettable area adjusted ('000 m2) 13.4________________________________________Site coverage (%) 51________________________________________Number of buildings 1________________________________________Number of units 10________________________________________Average unit size ('000 m2) 1.3________________________________________Office content (%) 73________________________________________Car parking 419________________________________________Major tenant Getronics Australia Pty Ltd________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $24.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $24.0________________________________________Market cap rate (%) 10.50________________________________________Initial yield (%) 7.13________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 60________________________________________Weighted lease term by income (year/s) 1.8________________________________________Available (%) 28________________________________________2013 (%) 3________________________________________2014 (%) 0________________________________________2015 (%) 40________________________________________2016 (%) 29________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning G10 Brookvale Industrial West________________________________________Year built 1976________________________________________Site area (hectares) 4.2________________________________________Lettable area adjusted ('000 m2) 30.6________________________________________Site coverage (%) 73________________________________________Number of buildings 2________________________________________Number of units 6________________________________________Average unit size ('000 m2) 5.1________________________________________Office content (%) 41________________________________________Car parking 587________________________________________Major tenant Avon Products Pty Ltd________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $40.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $45.5________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 9.55________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 7________________________________________2015 (%) 11________________________________________2016 (%) 0________________________________________2017 (%) 82________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 4 (b1) and 4 (b2) Light________________________________________Year built 1991________________________________________Site area (hectares) 2.0________________________________________Lettable area adjusted ('000 m2) 19.7________________________________________Site coverage (%) 98________________________________________Number of buildings 2________________________________________Number of units 10________________________________________Average unit size ('000 m2) 2.0________________________________________Office content (%) 68________________________________________Car parking 414________________________________________Major tenant Spotless Services Australia________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $41.7________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $41.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 8.94________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 84________________________________________Weighted lease term by income (year/s) 2.3________________________________________Available (%) 13________________________________________2013 (%) 3________________________________________2014 (%) 44________________________________________2015 (%) 12________________________________________2016 (%) 3________________________________________2017 (%) 19________________________________________2018 (%) 6________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_12 Frederick Street, St Leonards_

_

_52 Holbeche Road, Arndell Park_

_

_3 Brookhollow Avenue,Baulkham Hills_

_The estate includes 13 office/warehouse unitsproviding approximately 19,300sqm. FrederickStreet is located in the St Leonards/Artarmonindustrial precinct 6kms north of the SydneyCBD. The units offer modern qualityaccommodation ranging between 900-2,050sqm.

_

The property is located at the intersection ofHolbeche Road and Murtha Street at ArndellPark, an established industrial suburb locatedalong the M4 corridor within western Sydney.Arndell Park is approximately 10kms west ofParramatta and 35kms from the Sydney CBD.

_

The property is located within the NorwestBusiness Park, a leading technology andbusiness park providing campus style office,high-technology and manufacturing-production facilities. Its located in closeproximity to the M7 Motorway with extensivefrontage to both Norwest Boulevard andBrookhollow Avenue. _

_Details_Metro area Sydney, North________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industrial 4(a)________________________________________Year built 1974________________________________________Site area (hectares) 2.5________________________________________Lettable area adjusted ('000 m2) 19.3________________________________________Site coverage (%) 77________________________________________Number of buildings 1________________________________________Number of units 13________________________________________Average unit size ('000 m2) 1.5________________________________________Office content (%) 29________________________________________Car parking 357________________________________________Major tenant R Weatherdon & Co________________________________________Acquisition date Jul 2000________________________________________Book value (AU $m) $33.9________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $33.5________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 9.94________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.0________________________________________Available (%) 0________________________________________2013 (%) 30________________________________________2014 (%) 28________________________________________2015 (%) 18________________________________________2016 (%) 24________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(a) General Industrial________________________________________Year built 1999________________________________________Site area (hectares) 1.9________________________________________Lettable area adjusted ('000 m2) 9.6________________________________________Site coverage (%) 51________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 9.6________________________________________Office content (%) 6________________________________________Car parking 54________________________________________Major tenant DHL Exel Supply Chain (Aus)________________________________________Acquisition date Jul 1998________________________________________Book value (AU $m) $12.5________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $12.5________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 8.44________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Data Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment area 10(a)________________________________________Year built 1995________________________________________Site area (hectares) 5.2________________________________________Lettable area adjusted ('000 m2) 13.4________________________________________Site coverage (%) 26________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 13.4________________________________________Office content (%) 10________________________________________Car parking 163________________________________________Major tenant IBM Australia Limited________________________________________Acquisition date Dec 2002________________________________________Book value (AU $m) $52.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $52.0________________________________________Market cap rate (%) 8.50________________________________________Initial yield (%) 8.77________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 6.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 100________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_2 Minna Close, Belrose_

_

_114-120 Old Pittwater Road,Brookvale_

_

_436-484 Victoria Road,Gladesville_

_The property is located in the AustlinkBusiness Park in Belrose, 24kms north west ofthe Sydney CBD. It has access from MinnaClose and frontage to Mona Vale Road, amajor ring road from the northern suburbs ofSydney to the western and southern regions.

_

The property comprises two buildings and islocated in Brookvale, a northern suburb ofSydney, 15kms from the CBD. The landmeaures 4.2 hectares over two lots and hasgood access to Pittwater Road, a mainthoroughfare between the northern beachesand the CBD.

_

The property is located in a prominent positionon the intersection of Victoria Road andTennyson Road, Gladesville, approximately10kms north west of the Sydney CBD and11kms east of the Parramatta CBD.

__Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning B7 Business Park________________________________________Year built 1993________________________________________Site area (hectares) 2.6________________________________________Lettable area adjusted ('000 m2) 13.4________________________________________Site coverage (%) 51________________________________________Number of buildings 1________________________________________Number of units 10________________________________________Average unit size ('000 m2) 1.3________________________________________Office content (%) 73________________________________________Car parking 419________________________________________Major tenant Getronics Australia Pty Ltd________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $24.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $24.0________________________________________Market cap rate (%) 10.50________________________________________Initial yield (%) 7.13________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 60________________________________________Weighted lease term by income (year/s) 1.8________________________________________Available (%) 28________________________________________2013 (%) 3________________________________________2014 (%) 0________________________________________2015 (%) 40________________________________________2016 (%) 29________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning G10 Brookvale Industrial West________________________________________Year built 1976________________________________________Site area (hectares) 4.2________________________________________Lettable area adjusted ('000 m2) 30.6________________________________________Site coverage (%) 73________________________________________Number of buildings 2________________________________________Number of units 6________________________________________Average unit size ('000 m2) 5.1________________________________________Office content (%) 41________________________________________Car parking 587________________________________________Major tenant Avon Products Pty Ltd________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $40.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $45.5________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 9.55________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 7________________________________________2015 (%) 11________________________________________2016 (%) 0________________________________________2017 (%) 82________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, North________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 4 (b1) and 4 (b2) Light________________________________________Year built 1991________________________________________Site area (hectares) 2.0________________________________________Lettable area adjusted ('000 m2) 19.7________________________________________Site coverage (%) 98________________________________________Number of buildings 2________________________________________Number of units 10________________________________________Average unit size ('000 m2) 2.0________________________________________Office content (%) 68________________________________________Car parking 414________________________________________Major tenant Spotless Services Australia________________________________________Acquisition date Sep 1997________________________________________Book value (AU $m) $41.7________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $41.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 8.94________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 84________________________________________Weighted lease term by income (year/s) 2.3________________________________________Available (%) 13________________________________________2013 (%) 3________________________________________2014 (%) 44________________________________________2015 (%) 12________________________________________2016 (%) 3________________________________________2017 (%) 19________________________________________2018 (%) 6________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_30-32 Bessemer Street,Blacktown_

_

_2 Alspec Place, Eastern Creek_

_

_57-75 Templar Road, ErskinePark_

_The property forms part of the establishedBlacktown Industrial precinct situated threekms north of the commercial/retail centre ofBlacktown. Bessemer Street extends off thewestern side of Sunnyholt Road whichprovides access to the M7 Motorway,approximately two kms to the north.

_

The property comprises a modern warehouseand distribution facility located approximatelyone km south of the M7/M4 interchange.Eastern Creek is recognised as the premierindustrial logistics precinct in the SydneyMetropolitan area.

_

The property comprises a benched andserviced vacant parcel of land. An existingstormwater detention basin situated on thenorth-west corner of the site is utilised by theadjoining BlueScope Steel (northernboundary). A warehouse occupied by TargetAustralia adjoins the southern boundary.

__Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industrial 4(a)________________________________________Year built 1980________________________________________Site area (hectares) 4.5________________________________________Lettable area adjusted ('000 m2) 14.7________________________________________Site coverage (%) 33________________________________________Number of buildings 4________________________________________Number of units 4________________________________________Average unit size ('000 m2) 3.7________________________________________Office content (%) 4________________________________________Car parking 185________________________________________Major tenant C & M Snackfoods________________________________________Acquisition date May 1997________________________________________Book value (AU $m) $15.6________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $16.3________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 8.19________________________________________Discount rate (%) 10.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 8.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 100________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2004________________________________________Site area (hectares) 2.6________________________________________Lettable area adjusted ('000 m2) 16.9________________________________________Site coverage (%) 65________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 16.9________________________________________Office content (%) 2________________________________________Car parking 144________________________________________Major tenant DHL Logistics________________________________________Acquisition date Mar 2004________________________________________Book value (AU $m) $24.9________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $24.9________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.37________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning IN1 General Industrial________________________________________Site area (hectares) 6.3________________________________________Acquisition date Jun 2012________________________________________


_1 Foundation Place, Greystanes_

_

_Quarry Industrial Estate, 2-6Basalt Road, Greystanes_

_

_Quarry Industrial Estate, 5 BasaltRoad, Greystanes_

_The property is situated in the Greystanesbusiness hub within close proximity to majorarterial routes, M4/M7 motorways. Greystanesbusiness hub is 6kms west of Parramatta and26kms west of the Sydney CBD.

_

This facility is located in the Quarry atGreystanes estate which approximately 6 kmswest of Parramatta and 26 kms west of theSydney CBD with direct access to the M4 andM7 and linkages through to Wetherill Park andSmithfield. The building was completed inApril 2012.

_

This facility is located in the Quarry atGreystanes estate which approximately 6kmswest of Parramatta and 26kms west of theSydney CBD with direct access to the M4 andM7 and linkages through to Wetherill Park andSmithfield. The building was completed in July2012.

__Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2004________________________________________Site area (hectares) 5.8________________________________________Lettable area adjusted ('000 m2) 30.8________________________________________Site coverage (%) 53________________________________________Number of buildings 4________________________________________Number of units 5________________________________________Average unit size ('000 m2) 6.2________________________________________Office content (%) 14________________________________________Car parking 278________________________________________Major tenant Hitachi Construction Machinery________________________________________Acquisition date Feb 2003________________________________________Book value (AU $m) $43.3________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $41.5________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 7.41________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.6________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 28________________________________________2015 (%) 42________________________________________2016 (%) 15________________________________________2017 (%) 15________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2012________________________________________Site area (hectares) 4.3________________________________________Lettable area adjusted ('000 m2) 23.3________________________________________Site coverage (%) 55________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 23.3________________________________________Office content (%) 5________________________________________Car parking 111________________________________________Major tenant Camerons________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $29.8________________________________________Independent valuation date Aug 2012________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 3.54________________________________________Discount rate (%) 10.50________________________________________Leased by area (%) 46________________________________________Weighted lease term by income (year/s) 2.3________________________________________Available (%) 54________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 46________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2012________________________________________Site area (hectares) 1.2________________________________________Lettable area adjusted ('000 m2) 5.4________________________________________Site coverage (%) 44________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 5.4________________________________________Office content (%) 7________________________________________Car parking 34________________________________________Major tenant UPS________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $7.8________________________________________Market cap rate (%) 8.15________________________________________Initial yield (%) 8.89________________________________________Discount rate (%) 10.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.5________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 100________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_30-32 Bessemer Street,Blacktown_

_

_2 Alspec Place, Eastern Creek_

_

_57-75 Templar Road, ErskinePark_

_The property forms part of the establishedBlacktown Industrial precinct situated threekms north of the commercial/retail centre ofBlacktown. Bessemer Street extends off thewestern side of Sunnyholt Road whichprovides access to the M7 Motorway,approximately two kms to the north.

_

The property comprises a modern warehouseand distribution facility located approximatelyone km south of the M7/M4 interchange.Eastern Creek is recognised as the premierindustrial logistics precinct in the SydneyMetropolitan area.

_

The property comprises a benched andserviced vacant parcel of land. An existingstormwater detention basin situated on thenorth-west corner of the site is utilised by theadjoining BlueScope Steel (northernboundary). A warehouse occupied by TargetAustralia adjoins the southern boundary.

__Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industrial 4(a)________________________________________Year built 1980________________________________________Site area (hectares) 4.5________________________________________Lettable area adjusted ('000 m2) 14.7________________________________________Site coverage (%) 33________________________________________Number of buildings 4________________________________________Number of units 4________________________________________Average unit size ('000 m2) 3.7________________________________________Office content (%) 4________________________________________Car parking 185________________________________________Major tenant C & M Snackfoods________________________________________Acquisition date May 1997________________________________________Book value (AU $m) $15.6________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $16.3________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 8.19________________________________________Discount rate (%) 10.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 8.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 100________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2004________________________________________Site area (hectares) 2.6________________________________________Lettable area adjusted ('000 m2) 16.9________________________________________Site coverage (%) 65________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 16.9________________________________________Office content (%) 2________________________________________Car parking 144________________________________________Major tenant DHL Logistics________________________________________Acquisition date Mar 2004________________________________________Book value (AU $m) $24.9________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $24.9________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.37________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning IN1 General Industrial________________________________________Site area (hectares) 6.3________________________________________Acquisition date Jun 2012________________________________________



_Quarry Industrial Estate, 5Bellevue Circuit, Greystanes_

_

_Quarry Industrial Estate, 6Bellevue Circuit, Greystanes_

_

_Quarry Industrial Estate, 8 BasaltRoad, Greystanes_

_The facility is located in the Quarry atGreystanes estate which is approximately6kms west of Parramatta and 26kms west ofthe Sydney CBD with direct access to the M4and M7 and linkages through to Wetherill Parkand Smithfield. This was the seconddevelopment at Quarry and was completed inDecember 2010. _

The facility is located in the Quarry atGreystanes estate which is approximately6kms west of Parramatta and 26kms west ofthe Sydney CBD with direct access to the M4and M7 and linkages through to Wetherill Parkand Smithfield. This was the thirddevelopment at Quarry and was completed inSeptember 2011. _

The facility is located in the Quarry atGreystanes estate which is approximately6kms west of Parramatta and 26kms west ofthe Sydney CBD with direct access to the M4and M7 and linkages through to Wetherill Parkand Smithfield. This was the first developmentat Quarry and was completed in August 2010.

__Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2010________________________________________Site area (hectares) 3.8________________________________________Lettable area adjusted ('000 m2) 17.3________________________________________Site coverage (%) 46________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 17.3________________________________________Office content (%) 14________________________________________Car parking 243________________________________________Major tenant Symbion Health________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $32.1________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $32.1________________________________________Market cap rate (%) 7.75________________________________________Initial yield (%) 7.60________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 14.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 100________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2011________________________________________Site area (hectares) 3.9________________________________________Lettable area adjusted ('000 m2) 17.0________________________________________Site coverage (%) 44________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 17.0________________________________________Car parking 115________________________________________Major tenant Fujitsu________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $40.0________________________________________Independent valuation date May 2010________________________________________Independent valuation (AU $m) $39.0________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 7.78________________________________________Discount rate (%) 10.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 14.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 100________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Year built 2010________________________________________Site area (hectares) 3.0________________________________________Lettable area adjusted ('000 m2) 18.7________________________________________Site coverage (%) 62________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 18.7________________________________________Office content (%) 3________________________________________Car parking 84________________________________________Major tenant Solaris Paper________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $25.3________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $25.3________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 8.01________________________________________Discount rate (%) 10.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 8.7________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 100________________________________________2022+ (%) 0________________________________________


_Quarry Industrial Estate,Reconciliation Drive, Greystanes_

_

_27-29 Liberty Road,Huntingwood_

_

_Kings Park Industrial Estate,Vardys Road, Marayong_

_Quarry at Greystanes is a development sitelocated to the south of the Greystanesbusiness hub. It is DA approved for240,000sqm of industrial space and is in closeproximity to the M4/M7 motorways.

_

The property is located on the northern side ofLiberty Road in Huntingwood, a well-established industrial location home to anumber of major corporates. Huntingwood isin close proximity to the western Sydneyarterial road network being approximately2kms east of the M4/M7 Interchange.

_

A large multi unit industrial estate over68,000sqm, comprising nine office/warehousebuildings and a cafe. The buildings range from2,500-27,300sqm. Kings Park is located inMarayong near the Marayong Railway Station.The property is situated in close proximity tothe M7 and M2 Motorways and is linked to theM4 Motorway via main arterial roads. _

_Details_Metro area Sydney, Outer West________________________________________Building type Land________________________________________Title Land________________________________________Ownership DXS 100%________________________________________Zoning Employment________________________________________Site area (hectares) 26.8________________________________________Acquisition date Dec 2007________________________________________Book value (AU $m) $70.6________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $70.8________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(d) Huntingwood Industrial Zone________________________________________Year built 1996________________________________________Site area (hectares) 1.4________________________________________Lettable area adjusted ('000 m2) 6.8________________________________________Site coverage (%) 49________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 6.8________________________________________Office content (%) 19________________________________________Car parking 105________________________________________Major tenant Entertainment Distributors________________________________________Acquisition date Jul 1998________________________________________Book value (AU $m) $8.0________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $8.0________________________________________Market cap rate (%) 8.50________________________________________Initial yield (%) 9.74________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 0.4________________________________________Available (%) 0________________________________________2013 (%) 100________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, Outer West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(a) General Industrial________________________________________Year built 1991________________________________________Site area (hectares) 13.7________________________________________Lettable area adjusted ('000 m2) 68.9________________________________________Site coverage (%) 50________________________________________Number of buildings 10________________________________________Number of units 13________________________________________Average unit size ('000 m2) 5.3________________________________________Office content (%) 13________________________________________Car parking 484________________________________________Major tenant Visy Pet Pty Ltd________________________________________Acquisition date May 1990________________________________________Book value (AU $m) $89.0________________________________________Independent valuation date Dec 2009________________________________________Independent valuation (AU $m) $88.0________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 8.91________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.5________________________________________Available (%) 0________________________________________2013 (%) 10________________________________________2014 (%) 0________________________________________2015 (%) 45________________________________________2016 (%) 1________________________________________2017 (%) 44________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_154 O'Riordan Street, Mascot_

_

_2-4 Military Road, Matraville_

_

_25-55 Rothschild Avenue,Rosebery_

_The property is located in Mascot, anestablished industrial precinct of SouthSydney, approximately nine kms by road fromthe Sydney CBD. The Sydney Kingsford SmithAirport is located two kms south and PortBotany is located approximately five kms tothe south east.

_

A modern industrial estate comprising of twofreestanding, high clearance industrialoffice/warehouse buildings. The buildingsextend to a total area of 30,154sqm on a siteof 5.4ha. The property is situated in closeproximity to the expanding Port Botany seaportterminals.

_

The location provides excellent main roadexposure and three street frontages. RoseberyAvenue runs parallel to Botany Road, a majorthoroughfare providing direct access to theCBD. Conveniently located to Southern CrossDrive, the Eastern Distributor and the SydneyKingsford Smith Airport.

__Details_Metro area Sydney, South________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 4(a)________________________________________Year built 1985________________________________________Site area (hectares) 1.4________________________________________Lettable area adjusted ('000 m2) 8.2________________________________________Site coverage (%) 58________________________________________Number of buildings 3________________________________________Number of units 7________________________________________Average unit size ('000 m2) 1.2________________________________________Office content (%) 27________________________________________Car parking 130________________________________________Major tenant Gearhouse Broadcast PL________________________________________Acquisition date Jun 1997________________________________________Book value (AU $m) $14.3________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $13.8________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 8.45________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 20________________________________________2015 (%) 0________________________________________2016 (%) 64________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 16________________________________________

_Details_Metro area Sydney, South________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning 4(a) Industrial________________________________________Year built 2000________________________________________Site area (hectares) 5.4________________________________________Lettable area adjusted ('000 m2) 30.2________________________________________Site coverage (%) 56________________________________________Number of buildings 2________________________________________Number of units 2________________________________________Average unit size ('000 m2) 15.1________________________________________Office content (%) 24________________________________________Car parking 384________________________________________Major tenant Salmat Business PL________________________________________Acquisition date Dec 2009________________________________________Book value (AU $m) $52.9________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $52.9________________________________________Market cap rate (%) 8.50________________________________________Initial yield (%) 8.76________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 6.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 62________________________________________2019 (%) 0________________________________________2020 (%) 38________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Sydney, South________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Mixed Use Zone 10(e)________________________________________Year built 1984________________________________________Site area (hectares) 1.9________________________________________Lettable area adjusted ('000 m2) 16.8________________________________________Site coverage (%) 89________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 m2) 8.4________________________________________Office content (%) 37________________________________________Car parking 71________________________________________Major tenant Commonwealth of Aust AQIS________________________________________Acquisition date Oct 2001________________________________________Book value (AU $m) $32.9________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $32.5________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.61________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.0________________________________________Available (%) 0________________________________________2013 (%) 75________________________________________2014 (%) 25________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_5-15 Rosebery Avenue, Rosebery_

_

_30 Bellrick Street, Acacia Ridge_

_

_57-101 Balham Road,Archerfield_

_The location provides excellent main roadexposure and three street frontages. RoseberyAvenue runs parallel to Botany Road, a majorthoroughfare providing direct access to theCBD. Conveniently located to Southern CrossDrive, the Eastern Distributor and the SydneyKingsford Smith Airport.

_

This industrial estate is located on thesouthern side of Bellrick Street in AcaciaRidge which offers good access to majorarterial roads and has direct rail access to QRNational's Intermodal rail terminal. The estateis located 13kms south of the Brisbane CBD.

_

The property comprises a multi-unit estatelocated within the industrial precinct ofArcherfield, approximately 14kms south of theBrisbane CBD. The estate providesapproximately 24,450qm across sevenfreestanding buildings with 11 separatetenancies.

__Details_Metro area Sydney, South________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Mixed Use Zone 10(e)________________________________________Year built 1986________________________________________Site area (hectares) 3.0________________________________________Lettable area adjusted ('000 m2) 27.3________________________________________Site coverage (%) 91________________________________________Number of buildings 3________________________________________Number of units 42________________________________________Average unit size ('000 m2) 0.6________________________________________Office content (%) 54________________________________________Car parking 407________________________________________Major tenant Trimex PL________________________________________Acquisition date Apr 1998________________________________________Book value (AU $m) $57.9________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $56.5________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 7.83________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 97________________________________________Weighted lease term by income (year/s) 4.1________________________________________Available (%) 4________________________________________2013 (%) 8________________________________________2014 (%) 25________________________________________2015 (%) 7________________________________________2016 (%) 2________________________________________2017 (%) 24________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 30________________________________________2022+ (%) 0________________________________________

_Details_Metro area Brisbane________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industry________________________________________Year built 1988________________________________________Site area (hectares) 3.5________________________________________Lettable area adjusted ('000 m2) 17.8________________________________________Site coverage (%) 51________________________________________Number of buildings 5________________________________________Number of units 3________________________________________Average unit size ('000 m2) 5.9________________________________________Office content (%) 9________________________________________Car parking 100________________________________________Major tenant Twentieth Superspace________________________________________Acquisition date Jun 1997________________________________________Book value (AU $m) $20.3________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $19.6________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 9.43________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.1________________________________________Available (%) 0________________________________________2013 (%) 27________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 73________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Brisbane________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industry________________________________________Year built 1981________________________________________Site area (hectares) 4.5________________________________________Lettable area adjusted ('000 m2) 24.5________________________________________Site coverage (%) 55________________________________________Number of units 1________________________________________Average unit size ('000 m2) 24.5________________________________________Office content (%) 8________________________________________Major tenant Austral Bronze Crane Copper________________________________________Acquisition date Nov 2010________________________________________Leased by area (%) 79________________________________________Weighted lease term by income (year/s) 2.9________________________________________Available (%) 20________________________________________2013 (%) 0________________________________________2014 (%) 21________________________________________2015 (%) 40________________________________________2016 (%) 19________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_3676 Ipswich Road, Wacol_

_

_25 Donkin Street, West End,Brisbane_

_

_15-23 Whicker Road, Gillman_

_The site is benched, serviced and zonedindustrial land comprising two adjoiningallotments with current DA approvals in place.Wacol is an established south-westernindustrial precinct located 18kms south westfrom the Brisbane CBD.

_

The complex is located in the inner city, southside suburb of West End, 2kms south west ofthe Brisbane CBD. The immediatesurrounding area comprises high-techoffice/warehouse developments together withtraditional industrial premises, plus morerecent urban renewal medium-high densityresidential complexes. _

The property is situated within an establishedindustrial precinct in the north-western suburbof Gillman, approximately 12kms from theAdelaide CBD. Transport to the CBD is via themajor transport corridors of the GrandJunction Road and Port Road.

__Details_Metro area Brisbane________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (hectares) 4.8________________________________________Acquisition date Nov 2011________________________________________

_Details_Metro area Brisbane________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning MP2 (multi-purpose mixed-use) & HR (high

density residential)________________________________________Year built 1987________________________________________Site area (hectares) 1.7________________________________________Lettable area adjusted ('000 m2) 10.9________________________________________Site coverage (%) 64________________________________________Number of buildings 3________________________________________Number of units 28________________________________________Average unit size ('000 m2) 0.4________________________________________Office content (%) 67________________________________________Car parking 203________________________________________Major tenant Datacom Systems________________________________________Acquisition date Dec 1998________________________________________Book value (AU $m) $29.4________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $27.0________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 9.59________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 89________________________________________Weighted lease term by income (year/s) 1.6________________________________________Available (%) 12________________________________________2013 (%) 31________________________________________2014 (%) 27________________________________________2015 (%) 14________________________________________2016 (%) 5________________________________________2017 (%) 11________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Adelaide________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning General Industry 2________________________________________Year built 1970________________________________________Site area (hectares) 9.7________________________________________Lettable area adjusted ('000 m2) 72.1________________________________________Site coverage (%) 74________________________________________Number of buildings 2________________________________________Number of units 2________________________________________Average unit size ('000 m2) 36.1________________________________________Office content (%) 0________________________________________Major tenant SET________________________________________Acquisition date Dec 2002________________________________________Book value (AU $m) $27.3________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $25.5________________________________________Market cap rate (%) 10.00________________________________________Initial yield (%) 9.42________________________________________Discount rate (%) 11.00________________________________________Leased by area (%) 43________________________________________Weighted lease term by income (year/s) 1.6________________________________________Available (%) 52________________________________________2013 (%) 14________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 10________________________________________2017 (%) 24________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_114 Fairbank Road, Clayton_

_

_DEXUS Industrial Estate, PoundRoad West, Dandenong South_

_

_Knoxfield Industrial Estate,Henderson Road, Knoxfield_

_The property is located in the Claytonindustrial precinct, an established well-regarded industrial location approximately20kms south east of the Melbourne CBD. It isserviced by major road networks including theMonash Freeway and Dandenong Road to theeast of the property.

_

The property is located in the south east ofMelbourne, approximately 36kms from theCBD. The property has excellent access to theSouth Gippsland Freeway (Monash Freeway),South Gippsland Highway and the Eastlink.

_

The property consists of two office/warehousesin the established industrial precinct ofKnoxfield approximately 25kms south east ofMelbourne. The estate is well located with therecently extended Eastlink 3kms to the west.

__Details_Metro area Melbourne, South East________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 1________________________________________Year built 1986________________________________________Site area (hectares) 3.6________________________________________Lettable area adjusted ('000 m2) 18.6________________________________________Site coverage (%) 52________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 18.6________________________________________Office content (%) 3________________________________________Car parking 12________________________________________Major tenant Annex Holdings Pty Ltd________________________________________Acquisition date Jul 1997________________________________________Book value (AU $m) $15.2________________________________________Independent valuation date Dec 2010________________________________________Independent valuation (AU $m) $14.9________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 8.61________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 100________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, South East________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Business 3________________________________________Year built 2001________________________________________Site area (hectares) 16.2________________________________________Lettable area adjusted ('000 m2) 78.8________________________________________Site coverage (%) 49________________________________________Number of buildings 7________________________________________Number of units 7________________________________________Average unit size ('000 m2) 11.3________________________________________Office content (%) 8________________________________________Car parking 191________________________________________Major tenant L`oreal Australia Pty Ltd________________________________________Acquisition date Jan 2004________________________________________Book value (AU $m) $74.5________________________________________Independent valuation date Dec 2011________________________________________Independent valuation (AU $m) $72.0________________________________________Market cap rate (%) 8.39________________________________________Initial yield (%) 8.47________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.2________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 42________________________________________2015 (%) 22________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 23________________________________________2019 (%) 13________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, South East________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 1________________________________________Year built 1990________________________________________Site area (hectares) 7.4________________________________________Lettable area adjusted ('000 m2) 48.7________________________________________Site coverage (%) 66________________________________________Number of buildings 2________________________________________Number of units 2________________________________________Average unit size ('000 m2) 24.3________________________________________Office content (%) 3________________________________________Car parking 275________________________________________Major tenant Toll Transport PL________________________________________Acquisition date Aug 1996________________________________________Book value (AU $m) $37.7________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $37.6________________________________________Market cap rate (%) 8.75________________________________________Initial yield (%) 9.08________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 74________________________________________2015 (%) 0________________________________________2016 (%) 26________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_Axxess Corporate Park, CornerFerntree Gully & Gilby Roads,Mount Waverley_ _

_250 Forest Road South, Lara_

_

_Target Distribution Centre, TarrasRoad, Altona North_

_Axxess provides a combination of freestandingoffice buildings and traditional industrialoffice/warehouse units fronting onto Forsterand Gilby Roads. The estate provides smallerunits up to 1,000sqm plus modernoffice/warehouses up to 6,000sqm.

_

The property is located at Lara, between theports of Melbourne and Geelong approximately57kms south-west of Melbourne and 10kmsnorth of Geelong. The property comprises fourwarehouse buildings and a railway spur alongthe southern boundary.

_

This state of the art 41,447sqm distributionwarehouse was purpose built for Target. Theproperty is located in Altona North, in closeproximity to the Western Ring Road and WestGate Freeway with the Melbourne CBDapproximately 12kms to the east.

__Details_Metro area Melbourne, South East________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Business 3 Zone________________________________________Year built 1980________________________________________Site area (hectares) 19.6________________________________________Lettable area adjusted ('000 m2) 84.8________________________________________Site coverage (%) 43________________________________________Number of buildings 29________________________________________Number of units 119________________________________________Average unit size ('000 m2) 0.7________________________________________Office content (%) 25________________________________________Car parking 1240________________________________________Major tenant Jemena Ltd________________________________________Acquisition date Oct 1996________________________________________Book value (AU $m) $182.8________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $179.4________________________________________Market cap rate (%) 8.43________________________________________Initial yield (%) 8.57________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 97________________________________________Weighted lease term by income (year/s) 2.7________________________________________Available (%) 3________________________________________2013 (%) 27________________________________________2014 (%) 16________________________________________2015 (%) 5________________________________________2016 (%) 26________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 13________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, South West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Year built 1985________________________________________Site area (hectares) 24.6________________________________________Lettable area adjusted ('000 m2) 117.3________________________________________Site coverage (%) 48________________________________________Number of buildings 4________________________________________Number of units 4________________________________________Average unit size ('000 m2) 29.3________________________________________Office content (%) 1________________________________________Car parking 122________________________________________Major tenant AWH Pty Ltd________________________________________Acquisition date Dec 2002________________________________________Book value (AU $m) $52.3________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $52.3________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 8.54________________________________________Discount rate (%) 10.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 11.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Special Use Zone 4________________________________________Year built 1996________________________________________Site area (hectares) 10.2________________________________________Lettable area adjusted ('000 m2) 41.4________________________________________Site coverage (%) 41________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 41.4________________________________________Office content (%) 5________________________________________Car parking 210________________________________________Major tenant Target Australia PL________________________________________Acquisition date Oct 1995________________________________________Book value (AU $m) $32.6________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $32.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 9.78________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_Axxess Corporate Park, CornerFerntree Gully & Gilby Roads,Mount Waverley_ _

_250 Forest Road South, Lara_

_

_Target Distribution Centre, TarrasRoad, Altona North_

_Axxess provides a combination of freestandingoffice buildings and traditional industrialoffice/warehouse units fronting onto Forsterand Gilby Roads. The estate provides smallerunits up to 1,000sqm plus modernoffice/warehouses up to 6,000sqm.

_

The property is located at Lara, between theports of Melbourne and Geelong approximately57kms south-west of Melbourne and 10kmsnorth of Geelong. The property comprises fourwarehouse buildings and a railway spur alongthe southern boundary.

_

This state of the art 41,447sqm distributionwarehouse was purpose built for Target. Theproperty is located in Altona North, in closeproximity to the Western Ring Road and WestGate Freeway with the Melbourne CBDapproximately 12kms to the east.

__Details_Metro area Melbourne, South East________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Business 3 Zone________________________________________Year built 1980________________________________________Site area (hectares) 19.6________________________________________Lettable area adjusted ('000 m2) 84.8________________________________________Site coverage (%) 43________________________________________Number of buildings 29________________________________________Number of units 119________________________________________Average unit size ('000 m2) 0.7________________________________________Office content (%) 25________________________________________Car parking 1240________________________________________Major tenant Jemena Ltd________________________________________Acquisition date Oct 1996________________________________________Book value (AU $m) $182.8________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $179.4________________________________________Market cap rate (%) 8.43________________________________________Initial yield (%) 8.57________________________________________Discount rate (%) 9.50________________________________________Leased by area (%) 97________________________________________Weighted lease term by income (year/s) 2.7________________________________________Available (%) 3________________________________________2013 (%) 27________________________________________2014 (%) 16________________________________________2015 (%) 5________________________________________2016 (%) 26________________________________________2017 (%) 10________________________________________2018 (%) 0________________________________________2019 (%) 13________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, South West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Year built 1985________________________________________Site area (hectares) 24.6________________________________________Lettable area adjusted ('000 m2) 117.3________________________________________Site coverage (%) 48________________________________________Number of buildings 4________________________________________Number of units 4________________________________________Average unit size ('000 m2) 29.3________________________________________Office content (%) 1________________________________________Car parking 122________________________________________Major tenant AWH Pty Ltd________________________________________Acquisition date Dec 2002________________________________________Book value (AU $m) $52.3________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $52.3________________________________________Market cap rate (%) 9.25________________________________________Initial yield (%) 8.54________________________________________Discount rate (%) 10.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 11.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Special Use Zone 4________________________________________Year built 1996________________________________________Site area (hectares) 10.2________________________________________Lettable area adjusted ('000 m2) 41.4________________________________________Site coverage (%) 41________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 41.4________________________________________Office content (%) 5________________________________________Car parking 210________________________________________Major tenant Target Australia PL________________________________________Acquisition date Oct 1995________________________________________Book value (AU $m) $32.6________________________________________Independent valuation date Jun 2011________________________________________Independent valuation (AU $m) $32.5________________________________________Market cap rate (%) 9.00________________________________________Initial yield (%) 9.78________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_12-18 Distribution Drive,Laverton North_

_

_2-10 Distribution Drive, LavertonNorth_

_

_25 Distribution Drive, LavertonNorth_

_This chilled distribution facility is in the DEXUSIndustrial Estate at Laverton North. The facilityis in close proximity to major transportinfrastructure including the Western RingRoad, Princess Freeway, Westgate Freewayand the Deer Park Bypass.

_

The property is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

_

The property is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

__Details_Metro area Melbourne, West________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner AMP________________________________________Zoning Industrial 2________________________________________Year built 2007________________________________________Site area (hectares) 16.6________________________________________Lettable area adjusted ('000 m2) 21.5________________________________________Site coverage (%) 13________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 21.5________________________________________Office content (%) 46________________________________________Major tenant Coles Myer Limited________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $50.4________________________________________Independent valuation date Jun 2010________________________________________Independent valuation (AU $m) $48.0________________________________________Market cap rate (%) 8.50________________________________________Initial yield (%) 8.84________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 9.8________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner JV________________________________________Zoning Industrial 2________________________________________Year built 2012________________________________________Site area (hectares) 3.7________________________________________Lettable area adjusted ('000 m2) 8.7________________________________________Site coverage (%) 47________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 8.7________________________________________Office content (%) 3________________________________________Major tenant Fastline________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $7.0________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.25________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.4________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner JV________________________________________Zoning Industrial 2________________________________________Year built 2012________________________________________Site area (hectares) 3.3________________________________________Lettable area adjusted ('000 m2) 7.8________________________________________Site coverage (%) 47________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 7.8________________________________________Office content (%) 5________________________________________Major tenant ACFS________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $5.9________________________________________Market cap rate (%) 8.25________________________________________Initial yield (%) 9.28________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 100________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________




_

_DEXUS Industrial Estate,Boundary Road, Laverton North_

_


_The property is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

_

The land is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

_

The property is located in Laverton North,approximately 17 kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

__Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner JV________________________________________Zoning Industrial 2________________________________________Year built 2012________________________________________Site area (hectares) 2.5________________________________________Lettable area adjusted ('000 m2) 6.9________________________________________Site coverage (%) 54________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 6.9________________________________________Office content (%) 6________________________________________Major tenant Toll________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $5.4________________________________________Market cap rate (%) 8.15________________________________________Initial yield (%) 9.30________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 100________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Land________________________________________Title Land________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Site area (hectares) 27.6________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $11.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $11.0________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Year built 2005________________________________________Site area (hectares) 121.9________________________________________Lettable area adjusted ('000 m2) 86.6________________________________________Site coverage (%) 7________________________________________Number of buildings 5________________________________________Number of units 4________________________________________Average unit size ('000 m2) 21.7________________________________________Office content (%) 3________________________________________Major tenant Foster's Australia Ltd________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $73.8________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $73.8________________________________________Market cap rate (%) 8.31________________________________________Initial yield (%) 7.31________________________________________Discount rate (%) 9.38________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 10________________________________________2018 (%) 46________________________________________2019 (%) 17________________________________________2020 (%) 27________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_


_


_The property is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

_

The land is located in Laverton North,approximately 17kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

_

The property is located in Laverton North,approximately 17 kms to the west ofMelbourne's CBD and Ports. The site is inclose proximity to the Western Ring Roadwhich is accessed via the interchange atBoundary Road and the interchange atFitzgerald Road.

__Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 50%________________________________________Co-owner JV________________________________________Zoning Industrial 2________________________________________Year built 2012________________________________________Site area (hectares) 2.5________________________________________Lettable area adjusted ('000 m2) 6.9________________________________________Site coverage (%) 54________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 6.9________________________________________Office content (%) 6________________________________________Major tenant Toll________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $5.4________________________________________Market cap rate (%) 8.15________________________________________Initial yield (%) 9.30________________________________________Discount rate (%) 9.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 100________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Land________________________________________Title Land________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Site area (hectares) 27.6________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $11.0________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $11.0________________________________________

_Details_Metro area Melbourne, West________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial 2________________________________________Year built 2005________________________________________Site area (hectares) 121.9________________________________________Lettable area adjusted ('000 m2) 86.6________________________________________Site coverage (%) 7________________________________________Number of buildings 5________________________________________Number of units 4________________________________________Average unit size ('000 m2) 21.7________________________________________Office content (%) 3________________________________________Major tenant Foster's Australia Ltd________________________________________Acquisition date Jul 2002________________________________________Book value (AU $m) $73.8________________________________________Independent valuation date Jun 2012________________________________________Independent valuation (AU $m) $73.8________________________________________Market cap rate (%) 8.31________________________________________Initial yield (%) 7.31________________________________________Discount rate (%) 9.38________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 10________________________________________2018 (%) 46________________________________________2019 (%) 17________________________________________2020 (%) 27________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

Quarry at Greystanes, Reconciliation Drive, Greystanes, NSW


3691 North Perris Boulevard, Perris, CA

UNITED STATES INDUSTRIAL PORTFOLIO

KEY PORTFOLIO STATISTICSTotal value $539.5m (2011: $1.2bn)



Total gross lettable area 6,787,779 sf (2011: 23,730,351 sf)





INLAND EMPIRE

3,277,965sf 48.3% port/area US$224m value 40.7% portfolio

11 properties

SAN DIEGO

123,136sf 1.8% port/area US$8m value 1.4% portfolio

1 property

DALLAS1

US$4m value 0.6% portfolio

2 properties

LOS ANGELES


9 properties

SEATTLE


3 properties

SAN ANTONIO1

US$1m value 0.2% portfolio

1 property

1 Vacant land.


Business/Office Parks 13%

Industrial Estates 35%

Warehouse/Distribution 54%

Land 1%


9.3

%

8.6

%

2.9

%

1.8

%

7.8

%

10.

0% 13.

0%

12.

6%

10.

5%

11.

7%

11.

7%

9.7

%

25.

2%

22.

0%

1.8

%

2.4

%

15.

3% 19.

1%

2.4

%

2.1

%

Vaca

nt

FY1

3

FY1

4

FY1

5

FY1

6

FY1

7

FY1

8

FY1

9

FY2

0

FY2

1+

Income

Area

Los AngelesInland Empire

San DiegoDallas

San Antonio

Seattle

% of United States Portfolio.






ownership(‘000 sf)

Acquisition date


date

Cap rate(%)4

Leased by area

(%)

Weighted average


(years)


(A$m)

United States

13602 12th Street, Chino California Inland Empire Distribution Centre 100 104.6 Sep 04 Jun 12 6.00 100 5.3 0.4

2250 S Riverside Avenue, Colton California Inland Empire Office Park 100 48.0 Oct 11 7.00 100 1.3 0.8

3590 De Forest Circle, Mira Loma California Inland Empire Distribution Centre 100 250.6 Sep 04 Dec 10 6.75 100 2.9 0.7

1450 E Francis Street, 1951 S Parco Street, 1401 E Cedar Street, Ontario California Inland Empire Industrial Estate 100 224.8 Sep 04 Jun 11 6.50 100 2.5 0.5

1777 S Vintage Avenue, Ontario California Inland Empire Industrial Estate 100 284.6 Sep 04 Jun 12 5.75 60 0.3 0.7

4190 Santa Ana Street, Ontario California Inland Empire Industrial Estate 100 98.8 Sep 04 Dec 10 6.50 55 0.2 0.4

11653 6th Street, 9357 Richmond Place, & 9371 Buffalo Avenue, Rancho Cucamonga California Inland Empire Industrial Estate 100 217.2 Sep 04 Dec 11 6.50 100 3.0 0.4

12000 Jersey Court, Rancho Cucamonga California Inland Empire Distribution Centre 100 88.1 Sep 04 Dec 11 6.75 100 2.7 0.2

9545 Santa Anita Avenue, Rancho Cucamonga California Inland Empire Industrial Estate 100 212.3 Sep 04 Dec 10 6.50 100 4.1 0.3

4200 E Santa Ana Street, Riverside California Inland Empire Industrial Estate 100 62.4 Sep 04 Jun 11 6.50 54 0.6 0.1

6530 Altura Boulevard, Buena Park California Los Angeles Distribution Centre 100 67.4 Sep 04 Dec 11 6.50 100 2.4 0.1

1100 Hatcher Avenue & 17521 & 17531 Railroad Street, Industry California Los Angeles Industrial Estate 100 157.3 Oct 10 Jun 12 5.50 97 2.3 0.7

14489 Industry Circle, La Mirada California Los Angeles Distribution Centre 100 112.9 Sep 04 Dec 10 6.00 100 3.7 0.5

14501 Artesia Boulevard, La Mirada California Los Angeles Industrial/Warehouse 100 277.6 Jan 11 Dec 11 6.00 100 3.6 2.3

14555 Alondra Boulevard, La Mirada California Los Angeles Distribution Centre 100 237.1 Sep 04 Dec 11 6.50 100 1.3 0.8

DEXUS Valley View, 6711 Valley View Street, La Palma California Los Angeles Business Park 100 292.1 Jul 11 Jun 12 5.75 100 7.3 0.9

3550 Tyburn Street & 3332–3424 N.San Fernando Road, Los Angeles California Los Angeles Industrial Estate 100 491.1 Sep 04 Dec 11 7.00 100 3.3 3.2

Summit Oaks, Vanderbilt Way, Santa Clarita California Los Angeles Office Park 100 147.0 Dec 06 Dec 11 8.00 100 7.3 2.1

9210 San Fernando Road, Sun Valley California Los Angeles Industrial Estate 100 181.6 Sep 04 Jun 12 6.00 100 1.5 1.4

7510-7520 Airway Road, San Diego California San Diego Industrial Estate 100 123.1 Sep 04 Dec 11 7.50 100 2.9 0.6

Kent West Corporate Park, 21902 64th Avenue South, Kent Washington Seattle Industrial Estate 100 402.8 Sep 04 Jun 12 5.75 99 3.4 1.2

Riverbend Commerce Park, 8005 South 266th Street & 26507 79th Avenue South, Kent Washington Seattle Business Park 100 128.3 Sep 04 Dec 11 7.00 100 0.9 0.7

3691 North Perris Boulevard, Perris California Inland Empire Warehouse 100 1,686.6 Jan 08 Dec 10 5.50 100 5.9 8.7

19700 38th Avenue East, Spanaway Washington Seattle Distribution Centre 100 891.6 Oct 09 Dec 10 7.00 100 7.3 4.3

Garland Jupiter, Garland2, 3 Texas Dallas Land 100 Jun 06 Jun 10 – 0 0 0.0

Plano Parkway, Plano2, 3 Texas Dallas Land 100 Jun 06 Jun 10 – 0 0 0.0

Tri County 2, Tri County Parkway, Schertz 2, 3 Texas San Antonio Land 100 Jul 07 Jun 10 – 0 0 0.0

MD Wholesale Food Market, 7970 Tarbay Drive, Jessup1 Maryland 0.6

Brooklyn Park Interstate Center, 7700 68th Avenue, Brooklyn Park1 Minnesota 0.0

World Park, 9842 International Boulevard, Cincinnati1 Ohio 0.1

2700 International Street, Columbus1 Ohio 0.0

Tri County 5, Tri County Parkway, Schertz1 Texas 0.0

44633 44645 Guilford Road & 21641 Beaumeade Circle, Ashburn1 Virginia 0.1

US central portfolio1 Various Various 42.0

Europe

European portfolioParis, Lyon, Brandenburg Paris, Lyon, Berlin Distribution Centres 100 100,600 sqm Jul 06 Jun 125 – 69 2.5 3.2

European portfolio1 Various Various 5.7


2 Vacant land.



5 80% of portfolio.





ownership(‘000 sf)

Acquisition date


date

Cap rate(%)4

Leased by area

(%)

Weighted average


(years)


(A$m)

United States

13602 12th Street, Chino California Inland Empire Distribution Centre 100 104.6 Sep 04 Jun 12 6.00 100 5.3 0.4

2250 S Riverside Avenue, Colton California Inland Empire Office Park 100 48.0 Oct 11 7.00 100 1.3 0.8

3590 De Forest Circle, Mira Loma California Inland Empire Distribution Centre 100 250.6 Sep 04 Dec 10 6.75 100 2.9 0.7

1450 E Francis Street, 1951 S Parco Street, 1401 E Cedar Street, Ontario California Inland Empire Industrial Estate 100 224.8 Sep 04 Jun 11 6.50 100 2.5 0.5

1777 S Vintage Avenue, Ontario California Inland Empire Industrial Estate 100 284.6 Sep 04 Jun 12 5.75 60 0.3 0.7

4190 Santa Ana Street, Ontario California Inland Empire Industrial Estate 100 98.8 Sep 04 Dec 10 6.50 55 0.2 0.4

11653 6th Street, 9357 Richmond Place, & 9371 Buffalo Avenue, Rancho Cucamonga California Inland Empire Industrial Estate 100 217.2 Sep 04 Dec 11 6.50 100 3.0 0.4

12000 Jersey Court, Rancho Cucamonga California Inland Empire Distribution Centre 100 88.1 Sep 04 Dec 11 6.75 100 2.7 0.2

9545 Santa Anita Avenue, Rancho Cucamonga California Inland Empire Industrial Estate 100 212.3 Sep 04 Dec 10 6.50 100 4.1 0.3

4200 E Santa Ana Street, Riverside California Inland Empire Industrial Estate 100 62.4 Sep 04 Jun 11 6.50 54 0.6 0.1

6530 Altura Boulevard, Buena Park California Los Angeles Distribution Centre 100 67.4 Sep 04 Dec 11 6.50 100 2.4 0.1

1100 Hatcher Avenue & 17521 & 17531 Railroad Street, Industry California Los Angeles Industrial Estate 100 157.3 Oct 10 Jun 12 5.50 97 2.3 0.7

14489 Industry Circle, La Mirada California Los Angeles Distribution Centre 100 112.9 Sep 04 Dec 10 6.00 100 3.7 0.5

14501 Artesia Boulevard, La Mirada California Los Angeles Industrial/Warehouse 100 277.6 Jan 11 Dec 11 6.00 100 3.6 2.3

14555 Alondra Boulevard, La Mirada California Los Angeles Distribution Centre 100 237.1 Sep 04 Dec 11 6.50 100 1.3 0.8

DEXUS Valley View, 6711 Valley View Street, La Palma California Los Angeles Business Park 100 292.1 Jul 11 Jun 12 5.75 100 7.3 0.9

3550 Tyburn Street & 3332–3424 N.San Fernando Road, Los Angeles California Los Angeles Industrial Estate 100 491.1 Sep 04 Dec 11 7.00 100 3.3 3.2

Summit Oaks, Vanderbilt Way, Santa Clarita California Los Angeles Office Park 100 147.0 Dec 06 Dec 11 8.00 100 7.3 2.1

9210 San Fernando Road, Sun Valley California Los Angeles Industrial Estate 100 181.6 Sep 04 Jun 12 6.00 100 1.5 1.4

7510-7520 Airway Road, San Diego California San Diego Industrial Estate 100 123.1 Sep 04 Dec 11 7.50 100 2.9 0.6

Kent West Corporate Park, 21902 64th Avenue South, Kent Washington Seattle Industrial Estate 100 402.8 Sep 04 Jun 12 5.75 99 3.4 1.2

Riverbend Commerce Park, 8005 South 266th Street & 26507 79th Avenue South, Kent Washington Seattle Business Park 100 128.3 Sep 04 Dec 11 7.00 100 0.9 0.7

3691 North Perris Boulevard, Perris California Inland Empire Warehouse 100 1,686.6 Jan 08 Dec 10 5.50 100 5.9 8.7

19700 38th Avenue East, Spanaway Washington Seattle Distribution Centre 100 891.6 Oct 09 Dec 10 7.00 100 7.3 4.3

Garland Jupiter, Garland2, 3 Texas Dallas Land 100 Jun 06 Jun 10 – 0 0 0.0

Plano Parkway, Plano2, 3 Texas Dallas Land 100 Jun 06 Jun 10 – 0 0 0.0

Tri County 2, Tri County Parkway, Schertz 2, 3 Texas San Antonio Land 100 Jul 07 Jun 10 – 0 0 0.0

MD Wholesale Food Market, 7970 Tarbay Drive, Jessup1 Maryland 0.6

Brooklyn Park Interstate Center, 7700 68th Avenue, Brooklyn Park1 Minnesota 0.0

World Park, 9842 International Boulevard, Cincinnati1 Ohio 0.1

2700 International Street, Columbus1 Ohio 0.0

Tri County 5, Tri County Parkway, Schertz1 Texas 0.0

44633 44645 Guilford Road & 21641 Beaumeade Circle, Ashburn1 Virginia 0.1

US central portfolio1 Various Various 42.0

Europe

European portfolioParis, Lyon, Brandenburg Paris, Lyon, Berlin Distribution Centres 100 100,600 sqm Jul 06 Jun 125 – 69 2.5 3.2

European portfolio1 Various Various 5.7



_13602 12th Street, Chino_

_

_2250 S Riverside Avenue, Colton_

_

_3590 De Forest Circle, MiraLoma_

_The property is located one mile south of thePomona (60) Freeway between Central andMountain Avenues. The property is a one-storyconcrete tilt-up, multi-tenant, industrialbuilding with a built-up tar roof system.

_

The property is located on the east side ofRiverside Avenue, approximatley one quartermile south of Agua Mansa Road. The propertyis comprised of one office building and onemetal truck maintenance building.

_

The property is located northeast of the I-15and 60 Freeway interchange off EtiwandaAvenue. The property is a concrete tilt-up,multi-tenant, warehouse building with built-uptar roof systems.

__Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1987________________________________________Site area (acres) 4.8________________________________________Lettable area adjusted ('000 ft2) 104.6________________________________________Site coverage (%) 50________________________________________Number of buildings 2________________________________________Number of units 4________________________________________Average unit size ('000 ft2) 26.2________________________________________Office content (%) 8________________________________________Car parking 258.3________________________________________Major tenant Wright Business Graphics Of

California________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 6.94________________________________________Discount rate (%) 7.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 35________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 65________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Office Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Specific Plan, Heavy Industrial________________________________________Year built 2000________________________________________Site area (acres) 34.4________________________________________Lettable area adjusted ('000 ft2) 48.0________________________________________Site coverage (%) 4________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 48.0________________________________________Office content (%) 100________________________________________Car parking 353________________________________________Major tenant US Express________________________________________Acquisition date Oct 2011________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 6.63________________________________________Discount rate (%) 7.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 100________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1992________________________________________Site area (acres) 8.4________________________________________Lettable area adjusted ('000 ft2) 250.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 250.6________________________________________Office content (%) 2________________________________________Car parking 598.2________________________________________Major tenant Domtar Paper Company________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.75________________________________________Initial yield (%) 6.55________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_1450 E Francis Street, 1951 SParco Street, 1401 E CedarStreet, Ontario_ _

_1777 S Vintage Avenue, Ontario_

_

_4190 Santa Ana Street, Ontario_

_The properties are located at the northeastend of Ontario and accessed via the SanBernardino (10), Pomona (60), and theOntario (15) freeways. The propertiescomprise three, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

_

The property is at the northeast end of Ontarioand accessed via the San Bernardino (10),Pomona (60), and the Ontario (15) freeways.The properties comprise five, concrete tilt-up,multi-tenant, warehouse/flex buildings withbuilt-up tar roof systems.

_

The property is located southwest of the I-10and I-15 interchange just north of JurupaStreet. The property is a concrete tilt-up, multi-tenant, warehouse/flex building with a built-uptar roof system.

__Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1999________________________________________Site area (acres) 11.0________________________________________Lettable area adjusted ('000 ft2) 224.8________________________________________Site coverage (%) 50________________________________________Number of buildings 3________________________________________Number of units 12________________________________________Average unit size ('000 ft2) 18.7________________________________________Office content (%) 8________________________________________Car parking 378________________________________________Major tenant WEG Electric Corp________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 7.21________________________________________Discount rate (%) 8.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.5________________________________________Available (%) 0________________________________________2013 (%) 23________________________________________2014 (%) 14________________________________________2015 (%) 20________________________________________2016 (%) 15________________________________________2017 (%) 20________________________________________2018 (%) 8________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1988________________________________________Site area (acres) 12.4________________________________________Lettable area adjusted ('000 ft2) 284.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 284.6________________________________________Office content (%) 5________________________________________Car parking 260________________________________________Major tenant Performance Freight________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 5.75________________________________________Initial yield (%) 6.77________________________________________Discount rate (%) 7.50________________________________________Leased by area (%) 60________________________________________Weighted lease term by income (year/s) 0.3________________________________________Available (%) 45________________________________________2013 (%) 55________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1989________________________________________Site area (acres) 4.9________________________________________Lettable area adjusted ('000 ft2) 98.8________________________________________Site coverage (%) 40________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 98.8________________________________________Office content (%) 6________________________________________Car parking 773________________________________________Major tenant Tree Island Wire USA (Halsteel)________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 1.66________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 55________________________________________Weighted lease term by income (year/s) 0.2________________________________________Available (%) 50________________________________________2013 (%) 50________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_13602 12th Street, Chino_

_

_2250 S Riverside Avenue, Colton_

_

_3590 De Forest Circle, MiraLoma_

_The property is located one mile south of thePomona (60) Freeway between Central andMountain Avenues. The property is a one-storyconcrete tilt-up, multi-tenant, industrialbuilding with a built-up tar roof system.

_

The property is located on the east side ofRiverside Avenue, approximatley one quartermile south of Agua Mansa Road. The propertyis comprised of one office building and onemetal truck maintenance building.

_

The property is located northeast of the I-15and 60 Freeway interchange off EtiwandaAvenue. The property is a concrete tilt-up,multi-tenant, warehouse building with built-uptar roof systems.

__Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1987________________________________________Site area (acres) 4.8________________________________________Lettable area adjusted ('000 ft2) 104.6________________________________________Site coverage (%) 50________________________________________Number of buildings 2________________________________________Number of units 4________________________________________Average unit size ('000 ft2) 26.2________________________________________Office content (%) 8________________________________________Car parking 258.3________________________________________Major tenant Wright Business Graphics Of

California________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 6.94________________________________________Discount rate (%) 7.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 35________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 65________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Office Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Specific Plan, Heavy Industrial________________________________________Year built 2000________________________________________Site area (acres) 34.4________________________________________Lettable area adjusted ('000 ft2) 48.0________________________________________Site coverage (%) 4________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 48.0________________________________________Office content (%) 100________________________________________Car parking 353________________________________________Major tenant US Express________________________________________Acquisition date Oct 2011________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 6.63________________________________________Discount rate (%) 7.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 100________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1992________________________________________Site area (acres) 8.4________________________________________Lettable area adjusted ('000 ft2) 250.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 250.6________________________________________Office content (%) 2________________________________________Car parking 598.2________________________________________Major tenant Domtar Paper Company________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.75________________________________________Initial yield (%) 6.55________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_11653 6th Street, 9357Richmond Place, & 9371 BuffaloAvenue, Rancho Cucamonga_ _

_12000 Jersey Court, RanchoCucamonga_

_

_9545 Santa Anita Avenue,Rancho Cucamonga_

_Three buildings are located northwest of the I-10/I-15 interchange with Santa Anita Avenuelocated to the northeast and accessed via thePomona (60) Freeway. The propertiescomprise four, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

_

The property is located northwest of the I-10and I-15 interchange off Rochester Avenuewith I-15 visibility. The property is a concretetilt-up, single tenant, warehouse building witha built-up tar roof system.

_

Three buildings are located northwest of the I-10/I-15 interchange with Santa Anita Avenuelocated to the northeast and accessed via thePomona (60) Freeway. The propertiescomprise four, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

__Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 2001________________________________________Site area (acres) 13.8________________________________________Lettable area adjusted ('000 ft2) 217.2________________________________________Site coverage (%) 40________________________________________Number of buildings 4________________________________________Number of units 13________________________________________Average unit size ('000 ft2) 16.7________________________________________Office content (%) 11________________________________________Car parking 762.8________________________________________Major tenant Amphastar Pharmaceuticals________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 6.23________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 9________________________________________2015 (%) 60________________________________________2016 (%) 25________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 6________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1989________________________________________Site area (acres) 4.3________________________________________Lettable area adjusted ('000 ft2) 88.1________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 4________________________________________Average unit size ('000 ft2) 22.0________________________________________Office content (%) 7________________________________________Car parking 118________________________________________Major tenant Amarr Garage Doors________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.75________________________________________Initial yield (%) 6.17________________________________________Discount rate (%) 8.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.7________________________________________Available (%) 0________________________________________2013 (%) 24________________________________________2014 (%) 0________________________________________2015 (%) 20________________________________________2016 (%) 56________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1989________________________________________Site area (acres) 9.5________________________________________Lettable area adjusted ('000 ft2) 212.3________________________________________Site coverage (%) 40________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 212.3________________________________________Office content (%) 2________________________________________Car parking 762.8________________________________________Major tenant Tech Packaging Inc.________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 4.57________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_4200 E Santa Ana, Riverside_

_

_6530 Altura Boulevard, BuenaPark_

_

_1100 Hatcher Avenue & 17521& 17531 Railroad Street, Industry_

_The properties are located at the northeastend of Ontario and accessed via the SanBernardino (10), Pomona (60), and theOntario (15) freeways. The propertiescomprise five, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

_

Located adjacent to I-5 at the Los AngelesCounty/Orange County in the city of La Miradaand Buena Park, the properties have access tothe I-5 at Valley View Avenue or Knott Avenue.The properties comprise two, concrete tilt-up,single tenant, warehouse buildings with built-up tar roof systems.

_

The property is approximately one mile off thePomona (60) Freeway. The propertycomprises of two one-story buildings concretetitle-up, multi-tenant warehouse buildings.

__Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1988________________________________________Site area (acres) 3.1________________________________________Lettable area adjusted ('000 ft2) 62.4________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 31.2________________________________________Office content (%) 10________________________________________Car parking 104________________________________________Major tenant Mid Continent Steel & Wire________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 1.54________________________________________Discount rate (%) 8.50________________________________________Leased by area (%) 54________________________________________Weighted lease term by income (year/s) 0.6________________________________________Available (%) 40________________________________________2013 (%) 60________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1967________________________________________Site area (acres) 3.5________________________________________Lettable area adjusted ('000 ft2) 67.4________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 67.4________________________________________Office content (%) 14________________________________________Car parking 119________________________________________Major tenant Onesource Distributors Llc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 5.06________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.4________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1988________________________________________Site area (acres) 8.1________________________________________Lettable area adjusted ('000 ft2) 157.3________________________________________Site coverage (%) 44________________________________________Number of buildings 2________________________________________Number of units 18________________________________________Average unit size ('000 ft2) 8.7________________________________________Office content (%) 19________________________________________Car parking 245________________________________________Major tenant World Data & Media Inc.________________________________________Acquisition date Oct 2010________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 5.50________________________________________Initial yield (%) 5.86________________________________________Discount rate (%) 7.25________________________________________Leased by area (%) 97________________________________________Weighted lease term by income (year/s) 2.3________________________________________Available (%) 4________________________________________2013 (%) 16________________________________________2014 (%) 21________________________________________2015 (%) 33________________________________________2016 (%) 20________________________________________2017 (%) 0________________________________________2018 (%) 6________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_11653 6th Street, 9357Richmond Place, & 9371 BuffaloAvenue, Rancho Cucamonga_ _

_12000 Jersey Court, RanchoCucamonga_

_

_9545 Santa Anita Avenue,Rancho Cucamonga_

_Three buildings are located northwest of the I-10/I-15 interchange with Santa Anita Avenuelocated to the northeast and accessed via thePomona (60) Freeway. The propertiescomprise four, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

_

The property is located northwest of the I-10and I-15 interchange off Rochester Avenuewith I-15 visibility. The property is a concretetilt-up, single tenant, warehouse building witha built-up tar roof system.

_

Three buildings are located northwest of the I-10/I-15 interchange with Santa Anita Avenuelocated to the northeast and accessed via thePomona (60) Freeway. The propertiescomprise four, concrete tilt-up, multi-tenant,warehouse/flex buildings with built-up tar roofsystems.

__Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 2001________________________________________Site area (acres) 13.8________________________________________Lettable area adjusted ('000 ft2) 217.2________________________________________Site coverage (%) 40________________________________________Number of buildings 4________________________________________Number of units 13________________________________________Average unit size ('000 ft2) 16.7________________________________________Office content (%) 11________________________________________Car parking 762.8________________________________________Major tenant Amphastar Pharmaceuticals________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 6.23________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 9________________________________________2015 (%) 60________________________________________2016 (%) 25________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 6________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1989________________________________________Site area (acres) 4.3________________________________________Lettable area adjusted ('000 ft2) 88.1________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 4________________________________________Average unit size ('000 ft2) 22.0________________________________________Office content (%) 7________________________________________Car parking 118________________________________________Major tenant Amarr Garage Doors________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.75________________________________________Initial yield (%) 6.17________________________________________Discount rate (%) 8.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.7________________________________________Available (%) 0________________________________________2013 (%) 24________________________________________2014 (%) 0________________________________________2015 (%) 20________________________________________2016 (%) 56________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1989________________________________________Site area (acres) 9.5________________________________________Lettable area adjusted ('000 ft2) 212.3________________________________________Site coverage (%) 40________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 212.3________________________________________Office content (%) 2________________________________________Car parking 762.8________________________________________Major tenant Tech Packaging Inc.________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 4.57________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 4.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_14489 Industry Circle, La Mirada_

_

_14501 Artesia Boulevard LaMirada_

_

_14555 Alondra Boulevard, LaMirada_

_Located adjacent to I-5 at the Los AngelesCounty/Orange County in the city of La Mirada,the property has access to the I-5 at ValleyView Avenue or Knott Avenue. The propertycomprises seven, concrete tilt-up, multi-tenant, warehouse buildings with built-up tarroof systems.

_

The property is located in the city of LaMirada, in Los Angeles County and has accessto both the I-5 and I-91 Freeways. The siteoffers 277,564sf of lettable area, including afurniture showroom and clear heights toapproximately 32 feet in the warehouse.

_


__Details_Metro area Los Angeles________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1967________________________________________Site area (acres) 5.2________________________________________Lettable area adjusted ('000 ft2) 112.9________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 56.5________________________________________Office content (%) 11________________________________________Car parking 168________________________________________Major tenant Damac Products Inc.________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 6.38________________________________________Discount rate (%) 8.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.7________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Industrial/Warehouse________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 Heavy Industrial________________________________________Year built 1968________________________________________Site area (acres) 16.2________________________________________Lettable area adjusted ('000 ft2) 277.6________________________________________Site coverage (%) 39________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 277.6________________________________________Office content (%) 53________________________________________Car parking 566________________________________________Major tenant Living Spaces________________________________________Acquisition date Jan 2011________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 7.34________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.6________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 100________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1968________________________________________Site area (acres) 12.1________________________________________Lettable area adjusted ('000 ft2) 237.1________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 237.1________________________________________Office content (%) 12________________________________________Car parking 119________________________________________Major tenant Kittrich Corporation________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 6.97________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 100________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_DEXUS Valley View, 6711 ValleyView Street, La Palma_

_

_3550 Tyburn Street & 3332-3424N.San Fernando Road, LosAngeles_ _

_Summit Oaks, Vanderbilt Way,Santa Clarita_

_This is a 292,080sf, divisible,distribution/manufacturing. The buildingfeatures 26 foot high dock loading doors and26 foot warehouse clearance.

_

The property comprises seven, concrete tilt-up, multi-tenant, warehouse buildings withbuilt-up tar roof systems and are locatedbetween Glendale Boulevard and FletcherDrive with regional access provided by the I-5or the Glendale Freeway at San FernandoRoad.

_

The property is a five-story Class A suburbanoffice building in Santa Clarita, California, withcovered parking for 380 cars plus anadditional 134 cars uncovered. Thedevelopment was completed July 2008 and isfully leased to a single tenant.

__Details_Metro area Los Angeles________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1968________________________________________Site area (acres) 10.5________________________________________Lettable area adjusted ('000 ft2) 292.1________________________________________Site coverage (%) 6________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 146.1________________________________________Office content (%) 10________________________________________Major tenant Iron Mountain Information Mgmt________________________________________Acquisition date Jul 2011________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 5.75________________________________________Initial yield (%) 5.09________________________________________Discount rate (%) 7.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 50________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 50________________________________________

_Details_Metro area Los Angeles________________________________________Building type Industrial Estate________________________________________Title Freehold with Leasehold

Parcel________________________________________Ownership DXS 100%________________________________________Zoning LA MZ 1________________________________________Year built 1966________________________________________Site area (acres) 20.7________________________________________Lettable area adjusted ('000 ft2) 491.1________________________________________Site coverage (%) 50________________________________________Number of buildings 7________________________________________Number of units 29________________________________________Average unit size ('000 ft2) 16.9________________________________________Office content (%) 10________________________________________Car parking 118________________________________________Major tenant Staples Contract & Commercial________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 7.62________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.3________________________________________Available (%) 0________________________________________2013 (%) 16________________________________________2014 (%) 3________________________________________2015 (%) 35________________________________________2016 (%) 10________________________________________2017 (%) 25________________________________________2018 (%) 0________________________________________2019 (%) 11________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Office Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning BP Business Park________________________________________Year built 2008________________________________________Site area (acres) 4.9________________________________________Lettable area adjusted ('000 ft2) 147.0________________________________________Site coverage (%) 70________________________________________Number of buildings 1________________________________________Number of units 7________________________________________Average unit size ('000 ft2) 21.0________________________________________Office content (%) 100________________________________________Car parking 514________________________________________US LEED rating Silver________________________________________Major tenant Advanced Bionics LLC________________________________________Acquisition date Dec 2006________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 8.00________________________________________Initial yield (%) 8.92________________________________________Discount rate (%) 10.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 100________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_14489 Industry Circle, La Mirada_

_

_14501 Artesia Boulevard LaMirada_

_

_14555 Alondra Boulevard, LaMirada_

_Located adjacent to I-5 at the Los AngelesCounty/Orange County in the city of La Mirada,the property has access to the I-5 at ValleyView Avenue or Knott Avenue. The propertycomprises seven, concrete tilt-up, multi-tenant, warehouse buildings with built-up tarroof systems.

_

The property is located in the city of LaMirada, in Los Angeles County and has accessto both the I-5 and I-91 Freeways. The siteoffers 277,564sf of lettable area, including afurniture showroom and clear heights toapproximately 32 feet in the warehouse.

_


__Details_Metro area Los Angeles________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1967________________________________________Site area (acres) 5.2________________________________________Lettable area adjusted ('000 ft2) 112.9________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 56.5________________________________________Office content (%) 11________________________________________Car parking 168________________________________________Major tenant Damac Products Inc.________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 6.38________________________________________Discount rate (%) 8.25________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.7________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 100________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Industrial/Warehouse________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 Heavy Industrial________________________________________Year built 1968________________________________________Site area (acres) 16.2________________________________________Lettable area adjusted ('000 ft2) 277.6________________________________________Site coverage (%) 39________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 277.6________________________________________Office content (%) 53________________________________________Car parking 566________________________________________Major tenant Living Spaces________________________________________Acquisition date Jan 2011________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 7.34________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.6________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 100________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Los Angeles________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Industrial________________________________________Year built 1968________________________________________Site area (acres) 12.1________________________________________Lettable area adjusted ('000 ft2) 237.1________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 237.1________________________________________Office content (%) 12________________________________________Car parking 119________________________________________Major tenant Kittrich Corporation________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 6.50________________________________________Initial yield (%) 6.97________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 100________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_9210 San Fernando Road, SunValley_

_

_7510-7520 Airway Road, SanDiego_

_

_Kent West Corporate Park, 2190264th Avenue South, Kent_

_The property is located north of theintersection of the Golden State (5) Freewayand the Hollywood (170) Freeway on SanFernando Road at Sheldon Street. Theproperty is a concrete tilt-up, multi-tenant,warehouse/flex building with amembrane/EPDM roof system.

_

The property is located in Otay Mesa off the905 Freeway at the corner of Britannia Wayand Airway Road. The 905 Freeway is located12 miles east of the San Diego (5) Freeway.The property is a concrete tilt-up, multi-tenant,warehouse/flex building with a built-up tar roofsystem.

_

Kent West Corporate Park is located along thewest side of the West Valley Highway (68thAvenue South), one half miles south of S.212th Street. The property has excellentfrontage on West Valley Highway, with easyaccess to Interstate 5 and Highway 167.

__Details_Metro area Los Angeles________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M1 1________________________________________Year built 1980________________________________________Site area (acres) 8.4________________________________________Lettable area adjusted ('000 ft2) 181.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 90.8________________________________________Office content (%) 5________________________________________Car parking 322________________________________________Major tenant Fedex Ground Package System________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 7.25________________________________________Discount rate (%) 7.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.5________________________________________Available (%) 0________________________________________2013 (%) 17________________________________________2014 (%) 83________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area San Diego________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1988________________________________________Site area (acres) 11.6________________________________________Lettable area adjusted ('000 ft2) 123.1________________________________________Site coverage (%) 20________________________________________Number of buildings 2________________________________________Number of units 6________________________________________Average unit size ('000 ft2) 20.5________________________________________Office content (%) 23________________________________________Car parking 309________________________________________Major tenant Illinois Tool Works Inc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 7.50________________________________________Initial yield (%) 9.85________________________________________Discount rate (%) 8.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 69________________________________________2016 (%) 31________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Seattle________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M 1 Industrial Park District________________________________________Year built 1989________________________________________Site area (acres) 19.6________________________________________Lettable area adjusted ('000 ft2) 402.8________________________________________Site coverage (%) 50________________________________________Number of buildings 5________________________________________Number of units 12________________________________________Average unit size ('000 ft2) 33.6________________________________________Office content (%) 14________________________________________Car parking 331________________________________________Major tenant Graebel/Quality Movers Inc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 5.75________________________________________Initial yield (%) 6.24________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 3.4________________________________________Available (%) 2________________________________________2013 (%) 14________________________________________2014 (%) 0________________________________________2015 (%) 16________________________________________2016 (%) 29________________________________________2017 (%) 36________________________________________2018 (%) 0________________________________________2019 (%) 3________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________


_Riverbend Commerce Park, 8005South 266th Street & 26507 79thAvenue South, Kent_ _

_3691 North Perris Boulevard,Perris_

_

_19700 38th Avenue East,Spanaway_

_Riverbend Commerce Park is locatedapproximately 2 miles east of I-167 and southof S. 259th Street and Green River Road. Theproperties comprise two, one-story, concretetilt-up, multi-tenant, warehouse building with abuild up tar roof system.

_

The property is rectangular and makes up anentire block along Perris Boulevard, betweenDawes Street and Morgan Street. Access tothe site is possible from both Perris Boulevardat the front of the property and at the rear byRedlands Avenue.

_

This one-story building was constructed with astructural steel frame and pre-cast concrete.The building has a 32 foot clear height, twodrive-in doors, 70 foot dock-high doors and218 trailer parking stalls. The facility is servedby a new enclosed railroad spur that isconnected to the Tacoma Rail line.

__Details_Metro area Seattle________________________________________Building type Business Park________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M 1 Industrial Park District________________________________________Year built 1999________________________________________Site area (acres) 14.8________________________________________Lettable area adjusted ('000 ft2) 128.3________________________________________Site coverage (%) 20________________________________________Number of buildings 2________________________________________Number of units 7________________________________________Average unit size ('000 ft2) 18.3________________________________________Office content (%) 14________________________________________Car parking 97________________________________________Major tenant Domino S Pizza Llc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 9.01________________________________________Discount rate (%) 8.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 0.9________________________________________Available (%) 0________________________________________2013 (%) 93________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 7________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Inland Empire________________________________________Building type Warehouse________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Light Industrial (FTZ)________________________________________Year built 2007________________________________________Site area (acres) 80.0________________________________________Lettable area adjusted ('000 ft2) 1,686.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 1686.6________________________________________Car parking 300________________________________________Major tenant Whirlpool________________________________________Acquisition date Jan 2008________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 5.50________________________________________Initial yield (%) 7.54________________________________________Discount rate (%) 7.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 5.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 98________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 2________________________________________

_Details_Metro area Seattle________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning EC (Employee Center)________________________________________Year built 2009________________________________________Site area (acres) 55.8________________________________________Lettable area adjusted ('000 ft2) 891.6________________________________________Site coverage (%) 40________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 ft2) 891.6________________________________________Car parking 103________________________________________US LEED rating Gold________________________________________Major tenant Whirlpool________________________________________Acquisition date Oct 2009________________________________________Independent valuation date Dec 2010________________________________________Market cap rate (%) 7.00________________________________________Initial yield (%) 7.88________________________________________Discount rate (%) 8.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 7.3________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 100________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_9210 San Fernando Road, SunValley_

_

_7510-7520 Airway Road, SanDiego_

_

_Kent West Corporate Park, 2190264th Avenue South, Kent_

_The property is located north of theintersection of the Golden State (5) Freewayand the Hollywood (170) Freeway on SanFernando Road at Sheldon Street. Theproperty is a concrete tilt-up, multi-tenant,warehouse/flex building with amembrane/EPDM roof system.

_

The property is located in Otay Mesa off the905 Freeway at the corner of Britannia Wayand Airway Road. The 905 Freeway is located12 miles east of the San Diego (5) Freeway.The property is a concrete tilt-up, multi-tenant,warehouse/flex building with a built-up tar roofsystem.

_

Kent West Corporate Park is located along thewest side of the West Valley Highway (68thAvenue South), one half miles south of S.212th Street. The property has excellentfrontage on West Valley Highway, with easyaccess to Interstate 5 and Highway 167.

__Details_Metro area Los Angeles________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M1 1________________________________________Year built 1980________________________________________Site area (acres) 8.4________________________________________Lettable area adjusted ('000 ft2) 181.6________________________________________Site coverage (%) 50________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 ft2) 90.8________________________________________Office content (%) 5________________________________________Car parking 322________________________________________Major tenant Fedex Ground Package System________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 6.00________________________________________Initial yield (%) 7.25________________________________________Discount rate (%) 7.75________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 1.5________________________________________Available (%) 0________________________________________2013 (%) 17________________________________________2014 (%) 83________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area San Diego________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M2 1 Light Industrial________________________________________Year built 1988________________________________________Site area (acres) 11.6________________________________________Lettable area adjusted ('000 ft2) 123.1________________________________________Site coverage (%) 20________________________________________Number of buildings 2________________________________________Number of units 6________________________________________Average unit size ('000 ft2) 20.5________________________________________Office content (%) 23________________________________________Car parking 309________________________________________Major tenant Illinois Tool Works Inc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Dec 2011________________________________________Market cap rate (%) 7.50________________________________________Initial yield (%) 9.85________________________________________Discount rate (%) 8.50________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.9________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 69________________________________________2016 (%) 31________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Seattle________________________________________Building type Industrial Estate________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning M 1 Industrial Park District________________________________________Year built 1989________________________________________Site area (acres) 19.6________________________________________Lettable area adjusted ('000 ft2) 402.8________________________________________Site coverage (%) 50________________________________________Number of buildings 5________________________________________Number of units 12________________________________________Average unit size ('000 ft2) 33.6________________________________________Office content (%) 14________________________________________Car parking 331________________________________________Major tenant Graebel/Quality Movers Inc________________________________________Acquisition date Sep 2004________________________________________Independent valuation date Jun 2012________________________________________Market cap rate (%) 5.75________________________________________Initial yield (%) 6.24________________________________________Discount rate (%) 8.00________________________________________Leased by area (%) 99________________________________________Weighted lease term by income (year/s) 3.4________________________________________Available (%) 2________________________________________2013 (%) 14________________________________________2014 (%) 0________________________________________2015 (%) 16________________________________________2016 (%) 29________________________________________2017 (%) 36________________________________________2018 (%) 0________________________________________2019 (%) 3________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________



_Garland Jupiter, Garland_

_

_Plano Parkway, Plano_

_

_Tri-County 2, Tri-CountyParkway, Schertz_

_This 25.6 acre development land site waspurchased on 30 June 2006 and is located inGarland, Dallas, Texas.

_

This 13.5 acre development land site waspurchased on 30 June 2006 and is located inPlano, Dallas, Texas.

_

This 5.8 acre development land site waspurchased in July 2007 and is located inSchertz/San Antonio, Texas.

__Details_Metro area Dallas________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 25.6________________________________________Acquisition date Jun 2006________________________________________Independent valuation date Jun 2010________________________________________

_Details_Metro area Dallas________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 13.5________________________________________Acquisition date Jun 2006________________________________________Independent valuation date Jun 2010________________________________________

_Details_Metro area San Antonio________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 5.8________________________________________Acquisition date Jul 2007________________________________________Independent valuation date Jun 2010________________________________________


EUROPEAN INDUSTRIAL PORTFOLIO

_19 Rue de Bretagne, 38070Saint-Quentin Fallavier_

_

_Zone Industrielle Epone II, 78680Epone_

_

_Servon 1, Route Nationale 19L'Orme Rond, 77170 Servon_

_The property comprises a single warehousewith mezzanine office and storage space.Construction comprises reinforced concreteframes with a concrete and corrugated metalsheeting facade. The site enjoys closeproximity to the A43 motorway and the A roadand N6, and the Lyon Saint-Expiry Airport.

_

The property comprises a logistics warehousewith 10 loading bays and officeaccommodation on the first floor . The buildingis of pre-cast reinforced concrete constructionwith facades of concrete and double skinnedcorrugated metal sheeting. The site is welllocated on the A13 motorway.

_

The property comprises a logistics warehousewith minimal office space and 35 loadingbays. The building is of metal framedconstruction with facades of double skinnedcorrugated metal sheeting. The site is in closeproximity to the N19, N104 and A86motorways.

__Details_Metro area Lyon________________________________________Building type Distribution Centre________________________________________Title Freehold/Co-ownership________________________________________Ownership DXS 100%________________________________________Zoning ZAC________________________________________Year built 1975________________________________________Lettable area adjusted ('000 m2) 27.4________________________________________Site coverage (%) 45________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 m2) 13.7________________________________________Office content (%) 8________________________________________Car parking 50________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 0________________________________________Weighted lease term by income (year/s) 0.0________________________________________Available (%) 100________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Freehold/Co-ownership________________________________________Ownership DXS 100%________________________________________Zoning Zone UJ________________________________________Year built 1978________________________________________Lettable area adjusted ('000 m2) 11.3________________________________________Site coverage (%) 45________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 11.3________________________________________Office content (%) 2________________________________________Car parking 71________________________________________Major tenant Auchan France________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.7________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 100________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning Zone UXa________________________________________Year built 1973________________________________________Lettable area adjusted ('000 m2) 27.2________________________________________Site coverage (%) 49________________________________________Number of buildings 1________________________________________Number of units 5________________________________________Average unit size ('000 m2) 5.4________________________________________Office content (%) 3________________________________________Car parking 90________________________________________Major tenant Relais Colis________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 86________________________________________Weighted lease term by income (year/s) 1.8________________________________________Available (%) 14________________________________________2013 (%) 31________________________________________2014 (%) 0________________________________________2015 (%) 55________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Garland Jupiter, Garland_

_

_Plano Parkway, Plano_

_

_Tri-County 2, Tri-CountyParkway, Schertz_

_This 25.6 acre development land site waspurchased on 30 June 2006 and is located inGarland, Dallas, Texas.

_

This 13.5 acre development land site waspurchased on 30 June 2006 and is located inPlano, Dallas, Texas.

_

This 5.8 acre development land site waspurchased in July 2007 and is located inSchertz/San Antonio, Texas.

__Details_Metro area Dallas________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 25.6________________________________________Acquisition date Jun 2006________________________________________Independent valuation date Jun 2010________________________________________

_Details_Metro area Dallas________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 13.5________________________________________Acquisition date Jun 2006________________________________________Independent valuation date Jun 2010________________________________________

_Details_Metro area San Antonio________________________________________Building type Land________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Site area (acres) 5.8________________________________________Acquisition date Jul 2007________________________________________Independent valuation date Jun 2010________________________________________


EUROPEAN INDUSTRIAL PORTFOLIO


_

_32 Avenue de l'Oceanie, 91140Villejust_

_

_Bremer Ring & Hansestrabe,Wustermark, Berlin_

_The property comprises a logistics warehousewith 30 loading bays. The building is of metalframed construction with facades of doubleskinned corrugated metal sheeting. The site iswell located with easy access to the N19,N104 and A86 motorways and 26 kms southwest of Orly International Airport.

_

The property comprises a warehouse, 15loading bays and office space on the groundand upper floors. Constructed of a precastreinforced concrete frame with a concrete anddouble-skinned corrugated metal sheeting.The site is well located with close proximity tothe A10 motorway.

_

The property consists of a modern purposebuilt distribution centre with 79 loading doorsand associated offices. The site is located in acargo transport centre with access to therailway siding and the motorway slip road B5.

__Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Part Freehold / Leasehold________________________________________Ownership DXS 100%________________________________________Zoning Zone UXa________________________________________Year built 1999________________________________________Lettable area adjusted ('000 m2) 8.7________________________________________Site coverage (%) 58________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 m2) 4.2________________________________________Office content (%) 1________________________________________Car parking 50________________________________________Major tenant ID Logistics________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 57________________________________________2015 (%) 43________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Freehold/Co-ownership________________________________________Ownership DXS 100%________________________________________Zoning Zone UY________________________________________Year built 1977________________________________________Lettable area adjusted ('000 m2) 15.9________________________________________Site coverage (%) 48________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 15.9________________________________________Office content (%) 7________________________________________Car parking 95________________________________________Major tenant Coca Cola Enterprise________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Berlin________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning GI Industrial Area________________________________________Year built 2006________________________________________Lettable area adjusted ('000 m2) 10.1________________________________________Site coverage (%) 24________________________________________Number of buildings 2________________________________________Number of units 2________________________________________Average unit size ('000 m2) 5.1________________________________________Office content (%) 19________________________________________Car parking 149________________________________________Major tenant Deutsche Post Immobilien GmbH________________________________________Acquisition date Dec 2006________________________________________Independent valuation date Dec 2011________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________



_

_32 Avenue de l'Oceanie, 91140Villejust_

_

_Bremer Ring & Hansestrabe,Wustermark, Berlin_

_The property comprises a logistics warehousewith 30 loading bays. The building is of metalframed construction with facades of doubleskinned corrugated metal sheeting. The site iswell located with easy access to the N19,N104 and A86 motorways and 26 kms southwest of Orly International Airport.

_

The property comprises a warehouse, 15loading bays and office space on the groundand upper floors. Constructed of a precastreinforced concrete frame with a concrete anddouble-skinned corrugated metal sheeting.The site is well located with close proximity tothe A10 motorway.

_

The property consists of a modern purposebuilt distribution centre with 79 loading doorsand associated offices. The site is located in acargo transport centre with access to therailway siding and the motorway slip road B5.

__Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Part Freehold / Leasehold________________________________________Ownership DXS 100%________________________________________Zoning Zone UXa________________________________________Year built 1999________________________________________Lettable area adjusted ('000 m2) 8.7________________________________________Site coverage (%) 58________________________________________Number of buildings 1________________________________________Number of units 2________________________________________Average unit size ('000 m2) 4.2________________________________________Office content (%) 1________________________________________Car parking 50________________________________________Major tenant ID Logistics________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 2.1________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 57________________________________________2015 (%) 43________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Paris________________________________________Building type Distribution Centre________________________________________Title Freehold/Co-ownership________________________________________Ownership DXS 100%________________________________________Zoning Zone UY________________________________________Year built 1977________________________________________Lettable area adjusted ('000 m2) 15.9________________________________________Site coverage (%) 48________________________________________Number of buildings 1________________________________________Number of units 1________________________________________Average unit size ('000 m2) 15.9________________________________________Office content (%) 7________________________________________Car parking 95________________________________________Major tenant Coca Cola Enterprise________________________________________Acquisition date Jul 2006________________________________________Independent valuation date Jun 2012________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 3.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 100________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 0________________________________________

_Details_Metro area Berlin________________________________________Building type Distribution Centre________________________________________Title Freehold________________________________________Ownership DXS 100%________________________________________Zoning GI Industrial Area________________________________________Year built 2006________________________________________Lettable area adjusted ('000 m2) 10.1________________________________________Site coverage (%) 24________________________________________Number of buildings 2________________________________________Number of units 2________________________________________Average unit size ('000 m2) 5.1________________________________________Office content (%) 19________________________________________Car parking 149________________________________________Major tenant Deutsche Post Immobilien GmbH________________________________________Acquisition date Dec 2006________________________________________Independent valuation date Dec 2011________________________________________Leased by area (%) 100________________________________________Weighted lease term by income (year/s) 10.0________________________________________Available (%) 0________________________________________2013 (%) 0________________________________________2014 (%) 0________________________________________2015 (%) 0________________________________________2016 (%) 0________________________________________2017 (%) 0________________________________________2018 (%) 0________________________________________2019 (%) 0________________________________________2020 (%) 0________________________________________2021 (%) 0________________________________________2022+ (%) 100________________________________________

PORTFOLIO INDEX

OFFICE – AUSTRALIA AND NEW ZEALAND ................................................714 Moore Street, Canberra, ACT .......................................................................12

Garema Court, 140-180 City Walk, Canberra, ACT ...........................................12

The Zenith, 821 Pacific Highway, Chatswood, NSW..........................................12

11 Talavera Road, Macquarie Park, NSW .........................................................13

144 Wicks Road, Macquarie Park, NSW ...........................................................13

40-50 Talavera Road, Macquarie Park, NSW ....................................................13

Victoria Cross, 60 Miller Street, North Sydney, NSW .........................................14

105 Phillip Street, Parramatta, NSW .................................................................14

130 George Street, Parramatta, NSW ...............................................................14

1 Bligh Street, Sydney, NSW .............................................................................15

201-217 Elizabeth Street, Sydney, NSW ............................................................15

30 The Bond, 30-34 Hickson Road, Sydney, NSW ...........................................15

309-321 Kent Street, Sydney, NSW ..................................................................16

383-395 Kent Street, Sydney, NSW ..................................................................16

44 Market Street, Sydney, NSW ........................................................................16

45 Clarence Street, Sydney, NSW .....................................................................17

Australia Square Complex, 264-278 George Street, Sydney, NSW ....................17

Governor Phillip & Macquarie Tower Complex, 1 Farrer Place, Sydney, NSW ....17

One Margaret Street, Sydney, NSW ...................................................................18

123 Albert Street, Brisbane, QLD .....................................................................18

8 Nicholson Street, Melbourne, VIC ..................................................................18

Flinders Gate Complex, 172 Flinders Street & 189 Flinders Lane, Melbourne, VIC ..................................................................19

Southgate Complex, 3 Southgate Avenue, Southbank, VIC ...............................19

Woodside Plaza, 240 St Georges Terrace, Perth, WA ........................................19

Lumley Centre, 88 Shortland Street, Auckland .................................................20

CAR PARK – AUSTRALIA .........................................................................20383-395 Kent Street, Sydney, NSW ..................................................................20

32-44 Flinders Street, Melbourne, VIC .............................................................20

34-60 Little Collins Street, Melbourne, VIC .......................................................21

Flinders Gate Complex, 172 Flinders Street, Melbourne, VIC ............................21

INDUSTRIAL – AUSTRALIA ......................................................................2279-99 St Hilliers Road, Auburn, NSW ...............................................................28

145-151 Arthur Street, Flemington, NSW..........................................................28

10-16 South Street, Rydalmere, NSW ...............................................................28

Centrewest Industrial Estate, Silverwater, NSW .................................................29

DEXUS Industrial Estate, Egerton Street, Silverwater, NSW ...............................29

1 Garigal Road, Belrose, NSW ..........................................................................29

2 Minna Close, Belrose, NSW ...........................................................................30

114-120 Old Pittwater Road, Brookvale, NSW ..................................................30

436-484 Victoria Road, Gladesville, NSW.........................................................30

12 Frederick Street, St Leonards, NSW .............................................................31

52 Holbeche Road, Arndell Park, NSW.............................................................31

3 Brookhollow Avenue, Baulkham Hills, NSW ...................................................31

30-32 Bessemer Street, Blacktown, NSW ........................................................32

2 Alspec Place, Eastern Creek, NSW ................................................................32

57-75 Templar Road, Erskine Park, NSW ..........................................................32

1 Foundation Place, Greystanes, NSW..............................................................33

Quarry Industrial Estate, 2-6 Basalt Road, Greystanes, NSW ............................33

Quarry Industrial Estate, 5 Basalt Road, Greystanes, NSW ...............................33

Quarry Industrial Estate, 5 Bellevue Circuit, Greystanes, NSW ..........................34

Quarry Industrial Estate, 6 Bellevue Circuit, Greystanes, NSW ..........................34

Quarry Industrial Estate, 8 Basalt Road, Greystanes, NSW ...............................34

Quarry Industrial Estate, Reconciliation Drive, Greystanes, NSW ......................35

27-29 Liberty Road, Huntingwood, NSW ..........................................................35

Kings Park Industrial Estate, Vardys Road, Marayong, NSW .............................35

154 O’Riordan Street, Mascot, NSW .................................................................36

2-4 Military Road, Matraville, NSW ..................................................................36

25-55 Rothschild Avenue, Rosebery, NSW .......................................................36

5-15 Rosebery Avenue, Rosebery, NSW ...........................................................37

30 Bellrick Street, Acacia Ridge, QLD ...............................................................37

57-101 Balham Road, Archerfield, QLD ............................................................37

3676 Ipswich Road, Wacol, QLD ......................................................................38

25 Donkin Street, West End, Brisbane, QLD .....................................................38

15-23 Whicker Road, Gillman, SA.....................................................................38

114 Fairbank Road, Clayton, VIC ......................................................................39

DEXUS Industrial Estate, Pound Road West, Dandenong South, VIC .....................................................................................39

Knoxfield Industrial Estate, Henderson Road, Knoxfield, VIC ............................39

Axxess Corporate Park, Cnr Ferntree Gully & Gilby roads, Mount Waverley, VIC .....................................................................40

250 Forest Road South, Lara, VIC ....................................................................40

Target Distribution Centre, Tarras Road, Altona North, VIC ...............................40

12-18 Distribution Drive, Laverton North, VIC ................................................... 41

2-10 Distribution Drive, Laverton North, VIC ..................................................... 41

25 Distribution Drive, Laverton North, VIC ........................................................ 41

27 Distribution Drive, Laverton North, VIC ........................................................42

DEXUS Industrial Estate, Boundary Road, Laverton North, VIC (Land) .............42

DEXUS Industrial Estate, Boundary Road, Laverton North, VIC ........................42

INDUSTRIAL – UNITED STATES ...............................................................4413602 12th Street, Chino, California .................................................................48

2250 S Riverside Avenue, Colton, California .....................................................48

3590 De Forest Circle, Mira Loma, California....................................................48

1450 E Francis Street, 1951 S Parco Street, 1401 E Cedar Street, Ontario, California ...........................................................49

1777 S Vintage Avenue, Ontario, California ......................................................49

4190 Santa Ana Street, Ontario, California .......................................................49

11653 6th Street, 9357 Richmond Place & 9371 Buffalo Avenue, Rancho Cucamonga, California ......................................50

12000 Jersey Court, Rancho Cucamonga, California ........................................50

9545 Santa Anita Avenue, Rancho Cucamonga ...............................................50

4200 E Santa Ana Street, Riverside, California ................................................51

6530 Altura Boulevard, Buena Park, California ..................................................51

1100 Hatcher Avenue & 17521 & 17531 Railroad Street, Industry, California ...51

14489 Industry Circle, La Mirada, California .....................................................52

14501 Artesia Boulevard, La Mirada, California ................................................52

14555 Alondra Boulevard, La Mirada, California ...............................................52

DEXUS Valley View, 6711 Valley View Street, La Palma, California ....................53

3550 Tyburn Street & 3332–3424 N San Fernando Road, Los Angeles, California .....................................................................................53

Summit Oaks, Vanderbilt Way, Santa Clarita, California .....................................53

9210 San Fernando Road, Sun Valley, California ................................................54

7510-7520 Airway Road, San Diego, California .................................................54

Kent West Corporate Park, 21902 64th Avenue S, Kent, Washington ...............54

Riverbend Commerce Park, 8005 South 266th Street & 26507 79th Avenue South, Kent, Washington ..................................................55

3691 North Perris Boulevard, Perris, California ................................................55

19700 38th Avenue East, Spanaway, Washington ............................................55

Garland Jupiter, Garland, Texas ........................................................................56

Plano Parkway, Plano, Texas ............................................................................56

Tri-County 2, Tri-County Parkway, Schertz, Texas .............................................56

INDUSTRIAL – EUROPE ..........................................................................5719 Rue de Bretagne, 38070 Saint-Quentin-Fallavier, Lyon ................................57

Zone industrielle Epône II, 78680 Epône, Paris ................................................57

Servon 1, Route Nationale 19 L’Orme Rond, 77170 Servon, Paris ....................57

Servon 2, Route Nationale 19 L’Orme Rond, 77170 Servon, Paris ....................58

32 Avenue de l’Océanie, 91140 Villejust, Paris .................................................58

Bremer Ring & Hansestraße, Wustermark, Berlin, Brandenburg .......................58


DIRECTORY

DEXUS Diversified Trust ARSN 089 324 541

DEXUS Industrial Trust ARSN 090 879 137

DEXUS Office Trust ARSN 090 768 531

DEXUS Operations Trust ARSN 110 521 223

Responsible EntityDEXUS Funds Management Limited ABN 24 060 920 783

Registered office of Responsible EntityLevel 9, 343 George Street Sydney NSW 2000

PO Box R1822 Royal Exchange Sydney NSW 1225

Phone: +61 2 9017 1100 Fax: +61 2 9017 1101 Email: [email protected] Website: www.dexus.com

DEXUS US Office4000 Westerly Place Suite 110 Newport Beach CA 92660

Phone: +1 949 783 2801 Fax: +1 949 433 9124 Email: [email protected] www.dexus.com/us

Investor enquiriesInfoline: 1800 819 675 or +61 2 8280 7126 Investor Relations: +61 2 9017 1330 Email: [email protected] Website: www.dexus.com

Security registryLink Market Services Limited Level 12, 680 George Street Sydney NSW 2000

Locked Bag A14 Sydney South NSW 1235

Registry Infoline: 1800 819 675 or +61 2 8280 7126 Fax: +61 2 9287 0303 Email: [email protected] Website: www.linkmarketservices.com.au

Monday to Friday between 8.30am and 5.30pm (Sydney time).

For enquiries regarding your holding you can either contact the Security Registry, or access your holding details via the Login area on our website www.dexus.com

Australian Securities ExchangeASX Code: DXS

www.dexus.com

2012 DXS PROPERTY SYNOPSIS & PORTFOLIO RESULTS

Dexus · DEXUS Property Group (ASX: DXS) ASX release 16 August 2012 . 2012 property synopsis and portfolio results. DEXUS Funds Management Limited, as responsible entity for DEXUS

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