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GPT Group ( (AU:GPT) ) has provided an update.
GPT Group has announced a new partnership with Commonwealth Superannuation Corporation (CSC) by acquiring a 50% stake in the iconic Grosvenor Place office tower in Sydney for $860 million. This strategic move aims to expand GPT’s office asset portfolio and leverage the strengthening office leasing market, aligning with their long-term growth strategy. The acquisition is expected to be completed by December 2025, pending approval, and will be funded through GPT’s existing borrowing capacity.
The most recent analyst rating on (AU:GPT) stock is a Buy with a A$6.26 price target. To see the full list of analyst forecasts on GPT Group stock, see the AU:GPT Stock Forecast page.
More about GPT Group
GPT Group is a prominent player in the real estate industry, focusing on the acquisition and management of premium office assets. The company has a significant market presence with a $15 billion portfolio, including key properties in major Australian cities such as Melbourne and Perth.
Average Trading Volume: 5,042,436
Technical Sentiment Signal: Buy
Current Market Cap: A$10.42B
For an in-depth examination of GPT stock, go to TipRanks’ Overview page.