GPT Group (ASX:GPT) partnered with the GPT Wholesale Shopping Centre Fund (GWSCF) for its retail asset Rouse Hill Town Center in New South Wales and will acquire an additional 8.33% of Highpoint Shopping Center in Victoria from GWSCF, increasing the group's direct ownership to 25%, according to a Wednesday filing with the Australian bourse.
Net proceeds after the 50% divestment of the Rouse Hill Town Centre and the acquisition of Highpoint Shopping Center amount to roughly AU$176.1 million in total, the filing said.
The settlement of transactions is anticipated to be completed by Mar. 31, according to the filing.
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