Lendlease sells $320m U.S. military housing business Omaha Beach Investment

Lendlease has entered into an agreement with Omaha Beach Investment Holdings, an entity managed by Guggenheim Partners Investment Management, for the sale of its U.S. military housing business for A$480 million ($320 million).

The sale represents a significant premium to book value and includes the operating platform of the business along with the associated management rights for asset, property, development and construction management. Approximately 150 employees will transfer with the sale.

The transaction builds on the significant progress made by Lendlease as it executes on the strategy announced in May 2024, refocusing on its Australian operations and international investment management capabilities while recycling more than A$4.5 billion ($3.0 billion) of capital.