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GPT Group Reports Total Centre Comparable MAT Growth Of 3.4%

GPT Group (GPT.AX,GPTGF.PK), in its operational update for the September 2018 quarter, total Centre comparable MAT growth of 3.4 per cent, compared to 2.3 per cent growth at 30 June 2018. Combined Retail Specialty comparable MAT growth of 5.4 per cent compared to 4.4 per cent growth at 30 June 2018.

GPT Group, an Australian property company that comprises General Property Trust and GPT Management Holdings, said total Office leases of 36,017 sqm signed during the quarter, and occupancy of 97.5 per cent, compared to 96.6 per cent at 30 June 2018.

GPT Wholesale Office Fund (GWOF) priced a US$250 million (A$351 million) US Private Placement (USPP) debt issue for an average term of 14 years at a margin of 167 basis points over 3 month BBSW.

GPT's Chief Executive Officer, Bob Johnston, said the Group was pleased to announce an upgrade to guidance for 2018, now forecasting to deliver FFO per security growth and Distribution per security growth of 3.5 per cent for the full year.

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