Australian real asset group Dexus completed the acquisition of Collimate Capital's real estate and domestic infrastructure equity business.

The accomplishment came after the final conditions were met involving the transfer of AMP's (ASX:AMP) interest in China Life AMP Asset Management.

With the new acquisition, Dexus will have direct and indirect control over $17.4 billion worth of various assets and investments. The group's real estate development pipeline will likely grow and improve future returns.