Property developer Lend Lease has rolled out a New Zealand shopping centre fund, The Australian reports. The fund has been launched with four properties worth $153 million that the company secured through its last year’s acquisition of ING Retail Property Fund.
The four centers comprise three Dress Smart outlet centres in Auckland, Wellington and Christchurch, and the Meridian Mall, the largest central shopping centre in Dunedin. The properties will seed the Lend Lease Real Estate Partners New Zealand Fund, a wholesale investment fund, in which the company will have a 5.3 percent investment.
Click here for the story from The Australian.
Click here for additional coverage from The Sydney Morning Herald.