Jan 16 (Reuters) - Australian property manager Lendlease Group (LLC) and Canada Pension Plan Investment Board (CPPIB) said on Tuesday they would partner to invest 1.5 billion pounds ($2.07 billion) in UK's build-to-rent private rental sector.
The partnership will initially invest 450 million pounds. "This investment is a great opportunity for CPPIB to further diversify our European real estate portfolio," Andrea Orlandi, head of real estate investments Europe at CPPIB, said in a statement. [nGNXOLUSEa]
The companies will also pursue "opportunities" within Lendlease's residential urban activities in London and across the UK under a joint venture.
($1 = 0.73 pounds)
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Mkt cap ! $3.765B | |||
| Open | High | Low | Value | Volume |
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