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Sale of Alliance Portfolio
4 June 2009
The GPT Group (GPT) today announced further progress in relation to the Group’s non core asset
sales program, with an agreement to sell the Group’s interest in the Alliance portfolio (previously
warehoused within the Hamburg Trust platform) to a syndicate of private investors. The portfolio was
originally acquired to seed a closed end fund.
On completion of the sale, GPT will have sold approximately $650 million of non core assets since
December 2008. This is in line with the Group’s strategy to exit non core portfolios and markets.
GPT’s balance sheet gearing, post the completion of the sale, will be less than 20% (on a pro forma
basis).
The Alliance portfolio comprises 1,208 residential apartments located in Texas and Florida, USA with
a carrying value of US$81.5 million as at 31 December 2008. The sale price, of US$72 million, is
equivalent to the value of the debt secured against the portfolio at 31 December 2008, and represents
a 12% discount to December book value.
Michael Cameron, Chief Executive Officer said: “This is a further step in achieving good progress on
our sale of non core assets.”
Ends
For further information contact:
Michael O’Brien
Chief Operating Officer
02 8239 3544
Donna Byrne
Head of Investor Relations
and Corporate Affairs
02 8239 3515
0401 711 542
Media contact details
Mark Gold
Third Person
0411 221 292





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Joint Venture Update
4 June 2009
GPT today confirmed that the Joint Venture with Babcock and Brown (Joint Venture) has completed
the transfer of ownership of the Galerie Butovice Shopping Centre in Prague to the lender, in full
satisfaction of the outstanding loan. As previously stated, the loan was fully non-recourse to GPT.
The Joint Venture's equity interest in this asset had been written down to nil as at December 2008.
The loan, which had breached its loan to value covenant in 2008, had an outstanding balance
of approximately €75 million.
Michael Cameron, Chief Executive Officer said: “This represents another step towards achieving an
exit from the Joint Venture.”
Ends
For further information contact:
Michael O’Brien
Chief Operating Officer
02 8239 3544
Donna Byrne
Head of Investor Relations
and Corporate Affairs
02 8239 3515
0401 711 542
Media contact details
Mark Gold
Third Person
0411 221 292