The assets at 3 Rider Boulevard and 5 Rider Boulevard are seven and 10-storey towers respectively with retail at ground level. They were sold as demand from suburban commercial property rises.

Settlement is expected this week with Altis AREEP 3 to be the owner of the new properties.

This is evidenced  by the battle for the GPT Metro Office fund, which is in takeover discussions with the Centuria​ Metropolitan Office fund. The other party that has also launched an offer for the GPT fund, the South African-backed Growthpoint​ Property has said it will decide whether to try to sweeten its bid by Thursday.

The Mirvac assets were sold jointly through CBRE's Michael Andrews, Scott Gray-Spencer, Steve Kearney and James Parry,  Angus Klem, Wally Scales and Neil Brookes at Knight Frank.

Mirvac's chief executive Susan Lloyd-Hurwitz said the Rhodes assets were sold at a premium to previous book value, and was part of the group's asset sales strategy for the 2016 financial year and also to keep a focus on its office portfolio within core CBD locations.

"Following the transaction, we expect to achieve total asset sales of over $870 million for the financial year to date," Ms Lloyd-Hurwitz said.

Mr Andrews said there was a strong level of inquiry from on and offshore capital, while Mr Kearney added it reinforced the strength of investor demand for high-quality suburban assets.

"Assets of this size and quality are being actively sought after in the suburban markets and we expect this demand to continue," Mr Gray-Spencer said.

According to James Parry, Knight Frank's head of institutional sales, Australia, the sale demonstrates continuing strong demand from buyers for Sydney's suburban office sector, with quality buyers from domestic and offshore competing.

"This sale also demonstrates the strength in the market's leasing fundamentals, which is being driven substantially by stock withdrawals," Mr Parry said.

"This is a high-quality, 5.5-star NABERS-rated building, and a multi-tenanted asset, that is on a major rail line in the centre of Sydney and adjacent to a major shopping centre."

Elsewhere, DEXUS Property said 57 of its 111 properties, comprising 23 office properties and 34 industrial properties have been externally valued as at June 30, reflecting 45 per cent of the total portfolio.

Combined with internal valuations across the remainder of the portfolio, this has resulted in an estimated $220 million or 2 per cent increase on prior book values for the six months to June 30.