Under the binding agreement with the consortium, which comprises Dexus and the Canada Pension Plan Investment Board, GWOF will acquire 750 Collins Street in Melbourne and a 50 per cent interest in 2 SouthBank Boulevard, also in Melbourne.
The consortium will also offer GWOF a further three office and retail assets.
The combined value of all assets is approximately $1.2 billion and the total purchase price is $679 million.
The call option will only apply if the consortium succeeds in reaching compulsory acquisition in its bid for the CPA.
Dexus will revise its offer following its asset sales offer to GWOF and give CPA unitholders the opportunity to elect to receive a cash and scrip mix comprising $0.8496 cash and $0.3801 Dexus securities per CPA unit.
CPA unitholders will, however, still be able to choose the existing cash/scrip mix of $0.7745 cash and 0.4516 Dexus securities per CPA unit under the offer.
The competing GPT offer consists of $0.7532 in cash and 0.141 GPT securities for each CPA unit.
Commonwealth Managed Investments has valued the Dexus offer at $1.24 per CPA unit and the GPT offer at $1.20.
The consortium has also entered into a memorandum of understanding with GPT Funds Management in which it has agreed to a sales process for its 50 per cent interest in the Northland Shopping Centre in Victoria.
This offer is also subject to a number of conditions including completion of due diligence.
