This article is from the Australian Property Journal archive
LEND Lease has confirmed that it is on the prowl for new shopping centres to add to its real estate portfolio.
Lend Lease said last Friday it is in discussion with the ING Retail Property Fund.
“Lend Lease, together with its managed funds and capital partners reviews a range of asset acquisition opportunities from time to time.
“Currently this includes a potential acquisition of the ING Retail Property Funds,” the company said in a statement.
But the deal is still being negotiated and is not guaranteed to proceed.
Lend Lease said the acquisition of the ING Retail Property Fund may or may not go ahead.
The ING Retail Property Fund is an unlisted property fund managed by ING Real Estate Investment Management, which has $17 billion of assets under management.
The fund’s diversified portfolio includes 17 properties throughout Australia and New Zealand, including nine retail, five outlet and three homemaker centres.
In Australia, the fund owns:
· the Armadale shopping centre at Armadale, Western Australia
· Harbour Town Shopping Centre at West Perth, WA
· the Lakeside Joondalup shopping centre at Joondalup, WA
· Endeavour Hills shopping centre at Endeavour Hills, Victoria
· Geelong Homemaker Centre at Waurn Ponds, VIC
· Stud Park chopping centre at Rowville, VIC
· Wynnum Plaza at Wynnum West, Queensland
· Harbour Town centre on the Gold Coast, QLD
· Menai Marketplace at Menai, NSW
· Settlement City shopping centre at Port Macquarie, New South Wales
· Style Homemaker Centre at Alexandria, NSW
· and Mile End Homemaker Centre at Mile End, South Australia
In NZ, the fund owns:
· Dress Smart Hornby at Christchurch
· Dress Smart Onehunga at Auckland
· Dress Smart Tawa at Wellington
· Manuka Terrace at Manuka
· and Meridian Centre at Dunedin
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