GPT Group (ASX:GPT) has bought a 50 per cent interest in 2 Southbank Boulevard in Melbourne for $196.7 million.
The purchase, by the GPT Wholesale Office Fund, is the third in a series of purchases from the Commonwealth Property Office Fund that totals $548.4 million.
The company says the final price came in at a 0.5 per cent discount on the asset’s book value.
Fund Manager Martin Ritchie says it was a strong result given the current competitive market environment.
GPT reported a net profit of $572 million in the 2013 calendar year.
