Minter Ellison

GPT Wholesale Office Fund acquires interest in One One One Eagle Street

1 mins and 20 secs  22.12.2016
GPT Wholesale Office Fund (GWOF) has acquired a one-third interest in One One One Eagle Street, Brisbane, Queensland from a wholly owned subsidiary of the Abu Dhabi Investment Authority for A$284 million. The acquisition is Queensland's largest commercial property transaction for 2016, making GWOF a two-thirds owner of one of Brisbane's most iconic premium-grade buildings, valued at approximately A$850 million. MinterEllison advised GWOF in the transaction.
The transaction completed on 15 December 2016.

GPT Group is one of Australia's largest diversified listed property groups, among the top 40 stocks on the ASX by market capitalisation, and having A$19.7 billion of assets under management. The Group focuses on an active ownership of Australian real estate in a portfolio that includes retail, office and logistics assets. This focus is complemented by its Funds Management business (with GWOF being one of the Group's unlisted funds) and selective development. With gross assets of A$6.5 billion, GWOF is the top performing office fund over one, three, five and seven years as measured by the Mercer/IPD Australia Unlisted Wholesale Fund index.

Lead MinterEllison partner Adrian Rich said, "We are delighted to have assisted the The GPT Group and its unlisted GPT Wholesale Office Fund in continuing its strategic investment in one of Brisbane's premium commercial towers."

"MinterEllison is proud to close out 2016 with this significant transaction alongside one of our key clients. We look forward to working closely with The GPT Group and their enviable funds management platform in growing their strategic portfolio into the future."

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