Grosvenor Place, a GTP Group asset in Sydney. (Photo: GPT Group)

The GPT Group has announced the establishment of a new office partnership with Commonwealth Superannuation Corporation to acquire a 50% interest in the premium grade office tower Grosvenor Place at 225 George Street, Sydney.

The REIT is acquiring the asset for total consideration of AUD860 million plus transaction costs.

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By Rachel Young

Rachel Young is a staff writer for REITsWeek and is based in Singapore. She focuses on REITs listed in the North American and European markets but occasionally covers REITs in the Asia-Pacific region.