On Friday, the former leader of the retirement sector announced it had made two sales.
Lendlease announced the sale of Sydney-based infrastructure investor Capella Capital to Sojitz Corporation, a diversified Japanese trading company, for $235 million (it owned 70%).
Lendlease also said it had completed the $516 million sale of its US Military Housing business to Omaha Beach Investment Holdings, an entity managed by Guggenheim Partners Investment Management.
“The announced Capella Capital and Military Housing divestments progress our strategy to simplify the Group, as we work towards becoming less complex, more focused and ultimately more profitable,” said CEO Tony Lambardo.
Its remaining 21.5% stake in the nation’s leading retirement village operator Keyton, which it asked investment bank Gresham to sell in June 2023, remains unsold.
In August 2024, Lendlease increased its valuation of its stake in Keyton to $500 million.
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