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CPPIB and Australia's Lendlease partner to invest 1.5 billion pounds

Published 16/01/2018, 21:23
Updated 16/01/2018, 21:30
CPPIB and Australia's Lendlease partner to invest 1.5 billion pounds

(Reuters) - Australian property manager Lendlease Group (AX:LLC) and Canada Pension Plan Investment Board (CPPIB) said on Tuesday they would partner to invest 1.5 billion pounds 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.

The companies will also pursue "opportunities" within Lendlease's residential urban activities in London and across the UK under a joint venture.

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