Macquarie Bank has also upgraded Commonwealth Property Office Fund (CPA.AU) from Underperform to Neutral, following the lead of JPMorgan after Dexus Property...

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Macquarie Bank has also upgraded Commonwealth Property Office Fund (CPA.AU) from Underperform to Neutral, following the lead of JPMorgan after Dexus Property bought a 14.9% stake in the fund. The broker said that this highlighted corporate appetite for the fund, and although a bidding war was unlikely, Dexus could pay above the value of net tangible assets if it has a wholesale capital provider.


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