Australia's GPT to expand retail property portfolio in $849.12 million deal

GPT

14/06/2026 23:48

June 15 (Reuters) - Australia's GPT Group GPT.AX said on Monday its GPT Wholesale Shopping Centre Fund would acquire stakes in two major shopping centres from Lendlease-managed Australian Prime Property Fund - Retail in a A$1.2 billion ($849.12 million) deal.
Under the agreement, the fund will acquire a 50% interest in Sunshine Plaza in Queensland for A$622 million and a 50% interest in Macarthur Square in New South Wales for A$568 million, excluding transaction costs and in line with independent valuations.

($1 = 1.4132 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com;))