Australian Prime Property Fund Commercial managed by Lend Lease Investment Management entered into a binding agreement to acquire additional 25% stake in 1 Farrer Place from GPT Group (ASX:GPT) for approximately AUD 580 million on December 1, 2020. The transaction is expected to settle by mid-December. The proceeds from the sale will be reinvested by GPT into new opportunities including logistics acquisitions and the Group’s development pipeline.