Lendlease completes transaction to introduce a financial partner for a portion of asset management business from its Department of Defense portfolio
- 26 Apr 2022
Transaction has no impact on Lendlease’s partnership with DoD, residents, service partners or employees.
Lendlease, a global real estate and investment management company, announced today it had concluded its previously announced agreement to introduce a passive financial partner for a portion of asset management business from its Lendlease Communities Department of Defense portfolio. Under the terms of the transaction, Guggenheim Investments, (on behalf of its client accounts), and Lendlease will form a financial partnership to
acquire a portion of Lendlease’s asset management business from the company’s US military housing portfolio.
The transaction has no impact on Lendlease’s partnership with DoD, residents, service partners or employees. Lendlease and its DoD partners will remain in control of day-to-day operations of
the portfolio.
“The introduction of Guggenheim Investments (on behalf of its client accounts) as a passive financial partner aligns with our strategy to grow our investments while adding expertise,” said Carolyn Tregarthen, Managing Director, Lendlease Communities. “We’re proud to be one of the nation’s leaders in public/private community development with a focus on creating value through places where military communities thrive.”
In the US, Lendlease’s Communities business is one of the nation’s leaders in public/private community development. Lendlease manages one of the largest military housing portfolios in the US and are the Army's exclusive partner for lodging. With a focus on creating sustainable value, Lendlease creates communities that regenerate our environment, enrich people’s lives and foster economic growth. Lendlease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and more than 12,000 hotel rooms in its portfolio, Lendlease will finance, develop, build, renovate and operate these sites for at least 50 years.
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About Lendlease
Lendlease (www.lendlease.com) is a leading global real estate group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create value through places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 8,200 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
For additional information, contact:
Tom Reller
VP Communications, Lendlease Americas
Tom.Reller@lendlease.com
The transaction has no impact on Lendlease’s partnership with DoD, residents, service partners or employees. Lendlease and its DoD partners will remain in control of day-to-day operations of
the portfolio.
“The introduction of Guggenheim Investments (on behalf of its client accounts) as a passive financial partner aligns with our strategy to grow our investments while adding expertise,” said Carolyn Tregarthen, Managing Director, Lendlease Communities. “We’re proud to be one of the nation’s leaders in public/private community development with a focus on creating value through places where military communities thrive.”
In the US, Lendlease’s Communities business is one of the nation’s leaders in public/private community development. Lendlease manages one of the largest military housing portfolios in the US and are the Army's exclusive partner for lodging. With a focus on creating sustainable value, Lendlease creates communities that regenerate our environment, enrich people’s lives and foster economic growth. Lendlease has worked extensively with the Department of Defense through the Military Housing Privatization Initiative (MHPI), a program that provides for the transfer of military housing assets to private sector companies. With over 40,000 residential units, 192 apartments and more than 12,000 hotel rooms in its portfolio, Lendlease will finance, develop, build, renovate and operate these sites for at least 50 years.
###
About Lendlease
Lendlease (www.lendlease.com) is a leading global real estate group with operations in Australia, Asia, Europe and the Americas. Our purpose is to create value through places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has approximately 8,200 employees internationally. Our core capabilities are reflected in our operating segments of Development, Construction and Investments. The combination of these three segments provides us with a sustainable competitive advantage and allows us to provide innovative integrated solutions for our customers.
For additional information, contact:
Tom Reller
VP Communications, Lendlease Americas
Tom.Reller@lendlease.com