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GDI Property Group's GDI No. 38 Diversified Property Trust has sold 5 and 15 Wood Street, Bassendean, for AUD 29.5 million. The transaction is part of the company's portfolio management strategy aimed at optimizing high-performing assets. The sale proceeds will strengthen the trust's financial flexibility and support future investments. GDI Property has consistently focused on balancing capital growth with steady returns, and this transaction demonstrates its approach to strategic asset management. The buyer has not been disclosed, but the transfer of ownership is structured for efficiency.
GDI Property Group has completed the sale of 5 and 15 Wood Street in Bassendean through its GDI No. 38 Diversified Property Trust. The properties were sold for a total of AUD 29.5 million. The company confirmed that the transaction aligns with its ongoing strategy to manage and optimize its property portfolio, focusing on high-performing assets. Advertisement
These Bassendean properties, which have been part of GDI's diversified holdings, attracted interest due to their strategic location and potential for future development. The sale proceeds are expected to strengthen the trust's financial position and provide flexibility for upcoming investment opportunities. GDI Property has historically managed its diversified property trusts with a focus on steady returns and capital growth, and this transaction continues that approach.
The company has not disclosed the buyer's identity but noted that the sale was structured to ensure a smooth transfer of ownership. This transaction reflects GDI Property's continued efforts to balance portfolio growth with capital recycling, supporting long-term sustainability and returns for its investors.
Source Reuters
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