-- Lendlease Group's (ASX:LLC) managed fund, Australian Prime Property Fund Commercial, and Charter Hall Group (ASX:CHC) entered into a process on a series of transactions across the Spring and O'Connell Street precinct in Sydney's central business district, according to a Friday statement.
The first transaction phase includes the completed exchange of contracts on 19, O'Connell Street and strata lots within 23, O'Connell Street.
Charter Hall also accepted a pre-emptive offer for the remaining interests in 1, O'Connell Street, 8, 10, 16, Spring Street, and the remaining strata lots in 23, O'Connell Street due to an exchange in the coming weeks.
Following the divestment, the fund will focus on its portfolio of office assets, per the statement.
Shares of both firms fell 1% in recent trading on Friday.