The GPT Group has paid $206.3 million for a one sixth interest in the massive Highpoint Shopping Centre, and adjacent Maribyrnong Homemaker Centre in Melbourne's north-west.

Following a $1.7 billion equity raising in May, GPT will pay private Melbourne investors the Besen family $197.5 million for its interest in the centre, reflecting a very low 6 per cent capitalisation. Another $8.8 million is attributed to interest.