GPT Group (ASX:GPT) said its wholesale shopping center fund (GWSCF) agreed to acquire 50% interests in Sunshine Plaza in Maroochydore, Queensland, and Macarthur Square in Campbelltown, New South Wales, from the Lendlease Group (ASX:LLC)-managed Australian prime property fund, according to a Monday filing with the Australian bourse.

The acquisitions include AU$622 million for the Sunshine Plaza stake and AU$568 million for the Macarthur Square stake, excluding transaction costs, per the filing.

The company and GWSCF will each hold a 50% interest in Sunshine Plaza upon completion, while GWSCF will own 100% of Macarthur Square.

The acquisitions will be funded via GWSCF's oversubscribed equity raise and existing debt capacity, with completion expected in July, subject to customary conditions and approvals, the filing said.

The company will continue to manage leasing, property operations, and development activities for both assets, the filing added.

GPT Group's shares gained about 1% in recent Monday trade.