Shares of Australia’s Garda Diversified Property Fund (ASX:GDF) have seen an increase of up to 6.4% to A$1.16, a remarkable rise if the gains maintain, marking it the most significant rise since May 30.

Garda Diversified Property Fund (ASX:GDF) has reportedly entered into an agreement with Sentinel Property to sell two Melbourne office properties, Botanicca 7 and 9.

The total value of the divestment amounts to around A$80 million.

Garda Diversified Property Fund (ASX:GDF) has stated that the proceeds from this sales agreement will be utilised towards partially repaying their debt facilities.

As a result of this development, the stock has hit its highest levels since September 19, even though the stock had experienced a 16.2% drop this year prior to the latest closing price.

Garda Diversified Property Fund is an Australia-based company focused on office and industrial property within Australia.