<div id="readability-page-1"><div>** Shares of Australia's Scentre Group jump as much as 1.7% to A$4.23, their highest level in a month** Retail property manager says new fund, managed by commercial real estate asset firm Dexus , will purchase 25% interest in Westfield Chermside, Brisbane for A$683 million ($455.15 million)** Another fund, Dexus Wholesale Shopping Centre Fund (DWSF) purchased 25% interest in Westfield Chermside in July ** Scentre says it will retain 50% of Westfield Chermside, upon deal completion** Adds, Scentre will invest A$50 million into the new Dexus fund, Dexus Strategic Investment Trust 1, as foundation investor** Stock up 22.3% YTD, including session's moves($1 = 1.5006 Australian dollars)</div></div>

Shares of Australia's Scentre Group rose by 1.7% to A$4.23 after announcing a new joint venture with Dexus for a 25% interest in Westfield Chermside, Brisbane, valued at A$683 million. Scentre will retain 50% ownership and invest A$50 million in the Dexus fund. The stock is up 22.3% year-to-date.

Australia's Scentre rises on new JV partner for Brisbane shopping centre