January 16, 2018 / 9:18 PM / a year ago

CPPIB and Australia's Lendlease partner to invest 1.5 bln pounds

Jan 16 (Reuters) - Australian property manager Lendlease Group and Canada Pension Plan Investment Board (CPPIB) said on Tuesday they would partner to invest 1.5 billion pounds ($2.07 billion) in UK’s build-to-rent private rental sector.

The partnership will initially invest 450 million pounds.

“This investment is a great opportunity for CPPIB to further diversify our European real estate portfolio,” Andrea Orlandi, head of real estate investments Europe at CPPIB, said in a statement.

The companies will also pursue “opportunities” within Lendlease’s residential urban activities in London and across the UK under a joint venture. ($1 = 0.73 pounds) (Reporting by John Benny in Bengaluru; Editing by Maju Samuel)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below