This article is from the Australian Property Journal archive
LEND Lease has bolstered its $11.8 billion investment management business with the launch of a new wholesale shopping centre fund.
Lend Lease has launched the Lend Lease Retail Partners Australia, after receiving $185 million in commitments from a small group of institutional investors.
The Fund will seek to invest predominantly in quality sub-regional retail centres.
The group will have a circa 3% co-investment in the fund.
Lend Lease CEO Steve McCann said the establishment of LLRPA follows the successful launches of Lend Lease Real Estate Partners New Zealand in 2011 ($NZ210 million), and Lend Lease Real Estate Partners 3 in 2010 ($A430 million), both of which are fully invested.
“Lend Lease continues to demonstrate its capacity to attract institutional equity partners to invest alongside it in its quality deal flow and pipeline,” McCann said.
Lend Lease’s investment managed business has approximately $11.8 billion of property assets held by unlisted funds, joint ventures and separate mandates in Asia, Australia and Europe.
In Australia the flagship Australian Prime Property Fund Retail controls $4.3 billion worth of retail assets. The APPF Retail portfolio comprises interests in 15 shopping centres, with approximately 2,900 tenants.
Property Review
