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Lendlease sells additional 21% stake in U.S. military housing scheme to Guggenheim Investments
Lendlease has announced a third sale of a portion of its U.S. military housing scheme to Guggenheim Investments.
Lendlease manages one of the largest military housing portfolios in the United States and is the Army’s exclusive partner for lodging, according to the company’s website. With a focus on creating sustainable value, Lendlease’s aim is to creates communities that regenerate the environment, enrich people’s lives and foster economic growth.
The Australian Financial Review reports Guggenheim picked up an additional 21 percent stake in the military housing scheme for $A126 million ($86 million), reducing Lendlease’s stake to 38 percent,
“This transaction demonstrates our ability to realize value from our portfolio to redeploy into higher growth opportunities, consistent with the execution of our strategy and ongoing capital management focus,” said Tony Lombardo, CEO at Lendlease.