Transactions - MAY 22, 2014

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GPT buys four Australian office assets for $900m

by Andrea Waitrovich

GPT Wholesale Office Fund, managed by GPT Group, has agreed to acquire four Australian office assets for a total property value of A$968.2 million ($896.9 million) from Dexus Property Group and the Canada Pension Plan Investment Board. The deal was announced in April.

In line with the memorandum of understanding and with the Dexus consortium reaching a 100 percent ownership of the Commonwealth Property Office Fund, GWOF will acquire 750 Collins St., a 438,536-square-foot office in Melbourne valued at A$240.1 million ($222.4 million); 50 percent of Freshwater Place, a 590,631-square-foot property in Melbourne, for a total property value at A$37

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