GIC acquires 25.1% stake in Lendlease International Towers Sydney Trust

GIC, Singapore’s sovereign wealth fund, will acquire a 25.1 percent stake in Lendlease International Towers Sydney Trust (LLITST) from Canada Pension Plan Investment Board and Lendlease. A price was not disclosed.

LLITST holds assets located in the Barangaroo Office Precinct in the Sydney central business district. The properties are highly-accessible premium-grade office towers, with close proximity to Darling Harbour and extensive amenities.

Lee Kok Sun, CIO, GIC real estate, said, “These high-quality assets, situated in the heart of Sydney’s CBD, are expected to generate attractive risk-adjusted returns in the long run. As a long-term investor, we will continue to seek good investment opportunities that will add value to our global portfolio.”

The tran