Lockdown wasn't a joyous period filled with 1000-piece puzzles, sourdough starters and cocktail deliveries. The company isnt shying away from helping pay for new office towers, such as Atlassians new $1.4 billion headquarters near Sydneys Central Station, which is being constructed for a fixed price by Australias Built group and Japans Obayashi. You can't say how you and how you're not going to be the sustainability guy and you can't on the resources because it it is going to take some different thinking. Her last executive role was as Executive Director - Investments for Australian Retirement Fund. He is also Deputy Chancellor and a member of the Council of UNSW. Dexus provides its update for the quarter ended 31 March 2023, continuing to demonstrate resilience with milestones achieved across its funds management business and high occupancy maintained across its office and industrial portfolios. Darren Steinberg: [00:02:57] I've been fortunate in my career to work for a number of listed REITS. We weren't running around offshore markets. At the time he said "not much" kept him up at night. People will sit there and say it's the death of the office, but I don't think that's the case based on the deals we are still doing. Its going to take a lot of jobs, out over time.. Dexus Diversified Infrastructure Trust (DDIT), Dexus Wholesale Shopping Centre Fund (DWSF), Dexus Community Infrastructure Fund (COMMIF), Dexus Wholesale Australian Property Fund (DWAPF), Dexus Property for Income Fund No 2 (DPFIF2). She is also a director of several infrastructure and government bodies. He also says the pandemic hasn't been as stressful as the global financial crisis. Has he ever had to deal with a situation like we've seen unfold at AMP Capital? I can only imagine sort of what they're thinking at the moment with the entire workforce working from home, how they're going to recreate that space to make it still valuable for for their staff. We don't we don't do much residential. The Dexus model was already tested in the coronavirus crisis. We pulled her out and she did still work in the office of the chief executive of doing sort of various projects. Yeah. It might go down. But it goes back to the companys legacy when it was created out of a funds shop in 2004. It's going to make property and real assets a a push for real assets become even more attractive. He says the company's strong balance sheet and portfolio of "only the best assets" will hold it in good stead. Appointed to the Board on 1 March 2012, Darren Steinberg is the CEO of Dexus and an Executive Director of Dexus Funds Management Limited. They might be maintaining the status quo, but, quite frankly, I don't think that's good enough.". Darren Steinberg has been working as a CEO and Executive Director for Dexus for 4017 days. 3 min read Darren Steinberg became the CEO of Dexus ( ASX:DXS) in 2012. So let's start at the top. Look what I think a lot of people in the old days, you had to come from a real estate Strathmerton real estate background. Appreciate your time and good luck for the future. Rocky markets. The initial battle for the Collimate empire has been won by Dexus, with it acquiring the management platform from the beleaguered AMP. Our investor base is starting to allocate more and more to real assets, which, for the most part, is real estate and infrastructure, he says. In volatile markets, its the strong players with the balance sheets to support the business that will still be there, he says. And that can be transformational, it can be transactional or it can be coaching. Darren Joseph Steinberg Date of last notice 17 August 2021 Part 1 - Change of director's relevant interests in securities . Steinberg is actually making a point about the situation our politicians face right now. But the good news is that through the stock market, you can invest in property, you can invest in property these days with as little as a few dollars. And as you as you spend that money, you get more efficient, which means you can actually run things on lower, lower fees and provide better returns. So a couple of other trends from covid. Final three questions, Darren. You see a lot of syndicate saying, well, he's a ten year lease or a five year lease to a government tenant in a, let's say, secondary area. Steinberg is also clearly not a fan of people working from home full time. Dexus is running at about twenty six per cent eleven. We end up picking two dishes, the agedashi tofu and battered king prawns. Positioning the company to make a lasting play for the Collimate operation has been a decade-long affair, which saw the company dramatically transformed. People are saying: 'She'll be right, mate. The emergence of artificial intelligence also created new challenges for office occupancy, Mr Steinberg said. Dexus acquired Perths Jandakot Airport, which is only a 16-minute drive from the citys CBD and is used by small aircraft, in 2021. But one thing that's become very evident to me and even with mentors that I've sort of worked with over the past 30 years are good quality property. How are you going? So there's all this talk about flexible working. First one is the talented management, because you can put good management into any asset class and deliver excellent returns. Dexus has built up a hefty roster of senior executives across funds, development, property and newer asset classes as part of its internalised structure. Alison has made a strong contribution on driving improvements and efficiencies across the group, with a focus on the finance and technology function. Thats looking ahead. Weve been waiting for the right team and the right cultural fit, Steinberg says. Let's say I've always tried to run my vehicles around 30 per cent lived with a push to forty. The last time I interviewed Steinberg was just before the pandemic struck, in February. A masked waitress comes to take our drink order. He hopes that Equity Mates can help make investing understandable and accessible. Every week well break down one key component of the world of finance to help you get started on your investing journey. So while it's not new to the real estate industry and the real estate sector, it's something that sort of it blows me away a little bit when all of a sudden everyone's talking about it. Follow the topics, people and companies that matter to you. The hosts of Equity Mates Investing Podcast are not financial professionals and are not aware of your personal financial circumstances. There were times at my place where everyone was on the internet so it slowed down and you've got to come outside and yell 'Stop watching YouTube' or 'Turn that download off, I need to get back on a call'," he says. In the spirit of reconciliation, Equity Mates Media and the hosts of Equity Mates Investing Podcast acknowledge the Traditional Custodians of country throughout Australia and their connections to land, sea and community. But as far as what I look for today, is this really smart people, but it's a combination. "I know it's a very old-school approach and these days I know with a lot of people who work for me it's a lot more shared," he says. That's that's well and truly past both here and globally. Dexus (ASX: DXS) ASX release 17 August 2021 2021 Modern Slavery Statement Dexus releases its 2021 Modern Slavery Statement, consistent with its reporting under the Modern Slavery Act 2018. But have they are reworking this space internally is changing. Shifting values. Dexus is embedded across corporate Australia as a real estate provider and real assets are to follow. The probably the the older workers like. Rhoda has been a Non-Executive Director for over 15 years. Darren Joseph Steinberg is a businessperson who has been at the head of 5 different companies. Dexus is about returns to investors, whether you're in the listed stock or they're in any number of unlisted funds or the smaller rates, it's about the returns because if we don't deliver the returns, then we're not going to attract the capital to that. Help using this website - Accessibility statement. Darren is a Fellow of the Australian Institute of Company Directors, the Royal Institution of Chartered Surveyors and the Australian Property Institute. And what I did a lot of coaching opportunities, women's teams, men's teams and played it is great for 200 games. See Darren J Steinberg's compensation, career history, education, & memberships. Powered by Australias leading news organisations. But that's that is it is really challenging because we've got Gradison had two years in the business that that haven't been getting the benefit of working with myself and some of the some of my colleagues. Alec: [00:29:32] So, Darren, turning to some of the risks that Dexus faces, what would you say is the biggest risk to your business right now? Big developments, including the planned $2.1bn Waterfront Brisbane, are also a feature of the scaled up Dexus funds platform. Appointed to the Board on 1 March 2012, Darren Steinberg is the CEO of Dexus and an Executive Director of Dexus Funds Management Limited. He is a former National President of the Property Council of Australia, a founding member of Property Male Champions of Change and a Trustee of the Museum of Applied Arts & Sciences. This last 12 months, we've undertaken six point four billion of transactions. Because if you brought your real estate in a more sustainable manner, you're going to run it more effectively. We've had a flexible working policy for five years and in that time, pre Covid, we probably had one or two people that were using it. If I'm looking for talent and it's all about the best talent, I have a far more diverse spread. The struggle for internet bandwidth was real. Darren Steinberg, Dexus CEO said: "Alison has been a valuable member of our leadership team and after more than six years at Dexus has decided to leave the group. and the use cases of the underlying blockchain technology. For those retail investors listening who may think rates are all quite similar, how do you think about competitive advantage in this space and particularly what sort of separates Dexus from other listed REITs? Weve already started to have dialogue with the team at AMP and the other investors as to how we can help accelerate unlocking the real estate development around that asset, Steinberg says. So, look, I would hope that we are out of these lockdown's over the next sort of two to three months. Yeah. Paula has been a Non-Executive Director for over 20 years following an executive career in investment banking and funds management. For those investing in crypto or interested in learning more about this corner of the market, were featuring some of the most interesting content weve come across in this weekly email. Although his crisis situation lasted 24 hours, he is empathetic towards state and federal leaders who are having to make big decisions day in, day out for months as a result of an unprecedented pandemic they have never trained for. And so look at Dexus. And yeah, whether you're a believer or not a believer, I think the facts are. Experience in the property and funds management industry with an extensive background in office, industrial and retail property investment and development. Darren Steinberg: [00:30:29] I think success looks like Dexus will have a large amount of assets under management. Good morning, guys. So this is an industrial only vehicle. Since joining Dexus in 2012, the CEO has pushed both growth and transformation of the group. You've got to be upfront, open and transparent. So a lot more breakout spaces, lot more collaboration spaces. The play was less about aviation than unlocking the industrial development play around the facility. The Equity Mates email keeps you informed and entertained with what's going on in business and markets. I've been doing this for 30 years. Dexus is not to be underestimated. And we're very diversified so I can afford to take my leverage to thirty, thirty five percent. 2022 09 02 Appendix 3Y - Darren Steinberg, Dexus Diversified Infrastructure Trust (DDIT), Dexus Wholesale Shopping Centre Fund (DWSF), Dexus Community Infrastructure Fund (COMMIF), Dexus Wholesale Australian Property Fund (DWAPF), Dexus Property for Income Fund No 2 (DPFIF2). And I it's very, very challenging. His team worked to earn its stripes in funds management, which was already imbued in the company. Dexus CEO, Darren Steinberg said: "Our commitment to delivering strong ESG outcomes underpins long-term performance. And that's really worked well for me. Penny was also Chair of the NSW Freight and Logistics Advisory Council, the inaugural Chair of Advocacy Services Australia, Deputy Chair and Life Member of the Tourism & Transport Forum and a director of Infrastructure Partnerships Australia, SCEGGS Darlinghurst Limited and the Global Foundation. It was at Westfield, as the state leasing manager in the late 1990s, that he made an impression that would prove pivotal. . Darren Steinberg: [00:01:10] Thank you. The world of cryptocurrencies is a fascinating part of the investing universe these days. Bryce: [00:01:03] That's right, Ren. His most recent executive roles included Chief Executive Officer of Colonial First State Global Asset Management, Chief Executive Officer of 452 Capital, and Goldman Sachs Managing Director in Australia, London, and Singapore. I think one thing the Covid has surely shown is diversification is really important. Dexus redevelopment of 25 Martin Place in Sydney took a hit last year after the collapse of building group Probuild. And what does it mean for the workplace? Were probably not as diversified as we would like to be.. Big developments, including the planned $2.1bn Waterfront Brisbane, are also a feature of the scaled up Dexus funds platform. Published Dec 10, 2021 4:28AM EST (RTTNews) - Dexus said Blackstone's Core+ Real Estate strategy in Asia has signed a binding agreement to acquire GIC's 49% joint venture interest in the Dexus. Penny has broad industry experience in construction, property and infrastructure development and brings extensive experience as a company director in publicly listed, government and not-for-profit organisations. Chief Executive Officer and Executive Director. But if you've just got a single asset with a single tenant or a couple of tenants, I'd be very cautious. Including infrastructure finally achieved via the Collimate deal was always going to take time. Trained as an industrial lawyer, Nicola served in the Commonwealth Parliament for 15 years including a period as Minister for Health, and also as Australias first female Attorney-General. Europe, Menlo Park, China), Where the person is located (e.g. And there's other ways to get your product to consumers that that has evolved further. Darren Steinberg, chief executive of Dexus, picked Japanese restaurant Azuma in Chifley Tower because it's sharp and efficient. We pay our respects to their elders past and present and extend that respect to all Aboriginal and Torres Strait Islander people today. Days were long and exhausting, dominated by numerous Zoom calls that often started at 7am and finished at 8pm. Managing director Stephen Lowy was flying in to open the company's first shopping centre in Perth. Darren J. Steinberg serves as Chief Executive Officer, Executive Director of the Company. Why? Real estate will see you through the cycles. It assembled a consortium which bought Perths Jandakot Airport for $1.3bn last year. But real estate's been there since the 80s. He loves the Essendon Football Club, and lives in Sydney. And we always had this philosophy of, you know, keep your real estate lowly liquid and good quality. Look, I'm a big believer in organic and inorganic growth because when you bolthole companies is a cultural animal. All of a sudden you get a call from someone saying there could be bombs all over the city and of course weve got buildings all over the city. The leasing take up has been huge right across the country. Mr Bessell also expects the new NSW Labor government, which has promised to stop privatising assets such as Sydney Water, to keep partnering with the private sector to deliver projects. The move on Collimate will also take the company deep into student accommodation. Yeah. Darren Steinberg is CEO of Dexus and an Executive Director of Dexus Funds Management Limited. Warwick has more than 30 years of funds management, finance and property industry experience in Australia, Europe and Asia. Some 28 front office staff from AMPs infrastructure funds have moved across to Dexus, with about 450 former AMP employees in total joining the property group. Money was virtually free.. Dexus acknowledges the Traditional Custodians of the lands on which we operate and recognise their ongoing connection to land, waters and community. We've leased over one hundred ninety five thousand square metres of space. The yeah, I think it's inevitably the REITs will hopefully get moving, but it's probably two to three years away. Although construction had slowed as interest rates and the cost of funding had risen, ongoing migration to Australia and governments financial constraints would continue to create opportunities for infrastructure investment, Mr Steinberg forecast. She has extensive experience across technology, financial services, property, infrastructure and government sectors. And today she's our chief operating officer. The property group hopes that infrastructure will eventually comprise about half of its funds management business, Mr Steinberg told The Australian Financial Review in an interview in Sydney. Equity Mates Media does not operate under an Australian financial services licence and relies on the exemption available under the Corporations Act 2001 (Cth) in respect of any information or advice given.
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