GPT Group's Charlestown Square (Photo: GPT Group)GPT Group's Charlestown Square (Photo: GPT Group)

S&P Global Ratings has downgraded its outlook on GPT Group to negative, following the REIT’s revelation that it is acquiring 23 logistics assets and one office property from Ascot Capital.

GPT will fund the acquisition with debt.

Related: GPT Group ups exposure to logistics segment with AUD681 million buy

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.