Global law firm Clifford Chance has advised leading Australian real estate investment manager GPT Funds Management Limited on the acquisition by the GPT Wholesale Shopping Centre Fund (“GWSCF”) of 50% interests in Sunshine Plaza, Maroochydore (Queensland) and Macarthur Square, Campbelltown (New South Wales). Settlement of both the acquisitions is now complete.
The acquisitions form part of an approximately A$1.2 billion recapitalisation of funds into two institutional-quality retail assets, with the GPT Wholesale Shopping Fund acquiring the interests from Lendlease’s Australian Prime Property Fund in Australia’s largest retail real estate transaction of 2026 so far.
Philip Podzebenko, Partner, said: “This transaction reflects continued strong demand for high-quality retail assets from institutional investors seeking scale and resilient income streams. We were delighted to support GWSCF on these significant acquisitions.”
The core deal team comprised partners Rebecca Elgar and Philip Podzebenko, counsel Laura Walsh and Adrianna Witkowski, senior associate Japonica Sheridan and associates Callum Florance, Lisa Fogarty and Thomas Prestwidge.
The transaction builds on the firm’s recent real estate successes in Australia, including advising Scape Australia on its landmark acquisition of Aveo and advising MEC Global Partners Asia, a member of the Mitsubishi Estate Group, on its acquisition of a stake in Salesforce Tower.
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