Deal: UBS and Macquarie have acted as joint lead managers and underwriters of GPT’s $800 million institutional placement and the non-underwritten $50 million securities purchase plan being undertaken by GPT.

Value: $850 million total

Area: Corporate

Key players: The Ashurst team was led by partner Sarah Dulhunty, with support from associate Florence Tan.

Deal significance: “Together, the capital raised from the institutional placement and securities purchase plan will be used to fund GPT’s $531 million acquisition of a 25 per cent interest in the Darling Park development, and to fund the next stage of growth from within GPT’s development pipeline across the office and logistics sectors,” a statement from Ashurst said.

Commenting further, partner Sarah Dulhunty said: “We are delighted to have advised UBS and Macquarie on one of the largest placements in Australia this calendar year.

“It continues a spate of equity raisings by Australian REITs capitalising on renewed interest in REITs given improving real estate market conditions and declining interest rates.”

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