GPT Pays $206.3 Million For Share of Highpoint Shopping Centre
The Besen family indicated in March, and at a time GPT’s balance sheet was strained, that it might exercise an option forcing GPT to take up a third of its half share interest, as per an ownership agreement. It exercised this option in July, appointing Jones Lang LaSalle to value the property.
Highpoint Property Group managing director Terry Christofides told the AFR GPT and the Besen family have a very good relationship, and that he expects the owners will continue to work together developing the centre.
