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GPT cancels A$500M sale of shopping center in Australia

GPT Group's GPT Wholesale Shopping Centre Fund withdrew the Wollongong Central from the market, a few months after the shopping center in New South Wales, Australia, was put up for sale for A$500 million.

GPT did not provide any reasons for the canceled sale, but noted that the expressions of interest campaign for the newly redeveloped property was launched in March.

The Sydney-based diversified developer also reaffirmed its 3% year-over-year growth per-security forecast for fiscal full-year 2018 funds from operations and distributions. The company will release its interim results Aug. 13.