Dexus is believed to be negotiating with St Martins Properties Holdings Pty. Ltd. for a potential acquisition of the latter's stake in the A$1 billion Rialto Towers skyscraper in Melbourne, The Australian reported, citing industry sources.
The office complex at 525 Collins St. in the city's central business district comprises two interconnected towers with respective heights of up to 41 and 58 levels. It is co-owned by the Kuwaiti-backed St. Martins Properties with Grollo Group and was the tallest office building in the southern hemisphere at the time of its construction in the early 1980s, according to the publication.
The diversified real estate developer declined to comment regarding the rumored discussions for the stake transaction, the May 30 report added.