This article is from the Australian Property Journal archive
LENDLEASE is reportedly looking to launch a Singapore-based real estate investment trust that could come in at $1 billion.
It would hold some of the company’s major shopping centre assets throughout Asia, and potentially elsewhere.
International Financing Review Asia has reported a $700 million raising could be on the horizon, although this could come in at a much higher amount.
The REIT is part of Lendlease’s strategy to focus on its core initiatives such as capital partnerships, after its profit plunged 96% to $15.7 million in the first year due to the troubled engineering business.
Funds under management grew by 20% to $34.1 billion and will be further supported by future conversion of the development pipeline.
Australian Property Journal
