Property group Charter Hall is selling $203m worth of shares in Waypoint REIT through JPMorgan and UBS.
Shares are being sold at $2.61 each.
The price is a 4.4 per cent discount to the last traded share price of $2.73.
The sale by Charter Hall funds involves 77.9 million securities, equating to a 10 per cent stake.
Waypoint was previously called Viva Energy REIT and owns Australian service stations.
Charter Hall Group purchased shares in Viva Energy REIT earlier this year in a move some thought could be a precursor to a takeover for the group with a $2.7bn portfolio.
But it internalised its management, which put an end to the speculation.
Charter Hall funds that divested shares include Charter Hall and the Charter Hall Long WALE REIT.
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