GPT Group (AU:GPT) has released an update.
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GPT Group has entered a strategic retail partnership with Perron Group, acquiring a 50% stake in two major Perth retail properties, Cockburn Gateway and Belmont Forum, for approximately $482 million. This investment aligns with GPT’s strategy to diversify and enhance its retail portfolio, capitalizing on growth opportunities and leveraging its operational expertise. The transaction is set to complete in February 2025, promising to strengthen GPT’s position in Australia’s retail market.
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