Australia's Dexus to buy Melbourne office site

Australian real estate investment trust Dexus on Thursday said it will buy an office property in Melbourne for A$1.48 billion ($1 billion) and undertake an equity raising to help fund the acquisition. The REIT will seek to fund its purchase through a fully underwritten A$900 million placement to institutional investors at A$12.10 a share. Dexus shares closed on Tuesday at A$12.50.