Haven't absorbed the results yet but just though I'd make a post appreciating DXS's reporting. Some of the smaller peers have a lot to learn. Everything is crystal clear and transparent. As you can see below, FFO can be a very misleading indication of FCF. DXS do a great job of reconciling FFO to AFFO and FCF and also demonstrating how it all ties in with the balance sheet.

Dexus selling Sydney office towers 1 Margaret Street and 44 Market Street in test of unlisted office asset valuations.pdf

Book value of assets is $800 mil. Market cap of Dexus is just over $8bil.

A sale within 15% of book value would be a positive for not only Dexus but the boader office market. 15-25% wold be ok, anything over 25% would send some alarm bells ringing I would have thought.

Keep a close eye on this one I think.