Lendlease and Aware Super Execute Nearly 200 Million Recapitalization in Boston and Chicago

“After the successful delivery of Clippership Wharf and The Cooper at Southbank, this recapitalization event was an important step to repatriate capital to reinvest in further multifamily development projects and assets across our key U.S. gateway cities through our partnership with Aware Super,” said Ben Byrne, portfolio manager at Lendlease. “We value the support of our international partners who trust our vision for the portfolio and who helped us reach this milestone.”

In 2018, Lendlease and Aware Super, established a new $2 billion investment partnership to develop and hold multifamily assets in U.S. gateway cities.

“We’re proud of our success to date with Lendlease in growing our U.S. multifamily portfolio,” said Alek Misev, Portfolio Manager at Aware Super. “This international recapitalization effort is testament to the value of U.S. gateway city development, and we look forward to expanding our strong partnership in the future.”

“Lendlease is an important global business partner of SMBC. It was our great pleasure to work with them on The Cooper transaction, providing access to capital at a time of unprecedented uncertainty in the market,” said Carl Adams, Executive Officer & Deputy Head, SMBC Americas Division. “SMBC is dedicated to supporting its clients around the world. This transaction is a good example of SMBC following its deeply held values of service, respect, and integrity.”

“OCBC and Lendlease have an established relationship. Through our global network, we have been able to support their growth ambitions over the years,” said Raymond Chee, Head of OCBC’s U.S. Agencies. “We are proud to be a part of this recapitalization effort, which further showcases the strength of our partnership.”

Lendlease’s global investment management platform, fully integrated with its construction and development business units, spans the Americas, Asia, Australia and Europe. The company’s investment professionals manage approximately US$28.6/AU$36 billion globally in property assets via funds and separate mandates.

ENDS

For additional information, contact: 
Petula Lucey
Head of Corporate Affairs
212 592 6800
petula.lucey@lendlease.com

Jen Weber
InkHouse for Lendlease
lendlease@inkhouse.com