CPA piles pressure on Dexus fund
- {{x.value}}
{{ twilioFailed ? 'SMS Code Failed to Send…' : 'Enter verification code' }}
{{ completedStep1 ? 'Authentication & Security' : content.trialHeading.replace('{0}', user.FirstName) }}
{{ content.upgradeHeading.replace('{0}', user.FirstName) }}
The email address you entered is registered with InvestSMART
Please login to continue
We have sent you an email with the details of your registration.
Looks you are already a member. Please enter your password to proceed
{{ upgradeCTAText }}
Updating information
Please wait ...
Your membership to InvestSMART Group recently failed to renew.
Please make sure your payment details are up to date to continue your membership.
Having trouble renewing?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
You've recently updated your payment details.
It may take a few minutes to update your subscription details, during this time you will not be able to view locked content.
If you are still having trouble viewing content after 10 minutes, try logging out of your account and logging back in.
Still having trouble viewing content?
Please contact Member Services on support@investsmart.com.au or 1300 880 160
Please click on the ACTIVATE button to activate your Intelligent Investor 15-day free trial
Please click on the ACTIVATE button to finalise your membership
Unsuccessful registration
Registration for this event is available only to Eureka Report members. View our membership page for more information.
Registration for this event is available only to Intelligent Investor members. View our membership page for more information.
- You are already registered for this event.
- This event is already full.
- Please select a quantity for at least one ticket.
- {{ i }}
Forgotten password
Please enter your email address below to request a new password
- Verify your email address by clicking on the link we sent to {{user.Email}}
- You now have free access, we look forward to helping you on your financial journey.
Commonwealth Property Office Fund (CPA) has underlined its decision to spurn a bid by rival office owner Dexus (DXS) and the Canadian Pension Plan Investment Board by upping guidance and revealing its net tangible assets (NTA) have increased over the first quarter of fiscal 2014.
Last week CPA rejected Dexus's takeover bid, which is equivalent to $1.15 per share – in line with CPA's NTA at the end of June 30.
The offer was rejected by the board of the entity that manages CPA on behalf of the Commonwealth Bank as failing to provide a compelling value proposition.
Today CPA announced that its NTA had increased 1 cent to $1.16 following an uplift in valuation across a number of properties in its portfolio, including 385 Bourke Street.
The Commonwealth Bank's office property owner has also increased its distribution guidance for the year by 1.5 per cent to 6.65 cents per share after securing several new leases with existing tenants at its buildings over the quarter.
CPA fund manager Charles Moore declined to be drawn on the details of the offer but said there was further scope for CPA's NTA to rise as more buildings were revalued in the second quarter of this year.