GPT scoops up office assets for A$548m
GPT Wholesale Office Fund, managed by The GPT Group, is set to complete the full and partial acquisitions of three former Commonwealth Property Office Fund assets in Melbourne for a combined total of A$548.4 million (US$514 million). GPT previously bid for the CPA asset portfolio, which was acquired by Dexus Property Group and the Canada Pension Plan Investment Board.
Most recently, GWOF has acquired a 50 percent interest in 2 Southbank Boulevard for A$196.7 million (US$184 million). The latest deal comes after the fund’s April purchase of 750 Collins Street for A$249.5 million (US$234 million) and 655 Collins Street for A$102.2 million (US$96 million).
GWOF had exercised a call option to buy a 50 percent interest in a fourth CPA asset, KPMG Tower, located at 10 Shelle