GPT Wholesale Shopping Centre Fund, managed by GPT Funds Management, and The GPT Group have agreed to acquire the remaining 50 percent stake in Sunshine Plaza in Queensland from Australian Prime Property Fund Retail, which is managed by Lendlease, for A$622 million ($404.3 million), according to media outlets.
Upon completion, GPT will own 100 percent of Sunshine Plaza. In a related transaction, GPT has also agreed to acquire the remaining 50 percent stake in Macarthur Square in New South Wales.
The acquisitions will be funded through proceeds from GPT’s recent oversubscribed equity raise and available debt capacity. The Sunshine Plaza transaction is subject to customary conditions and approvals and is expected to close in July 2026.
