Lend Lease ponders move for ING retail property fund

first_imgThere’s no guarantee Lend Lease’s involvement will lead to a transaction, the company said in a statement today after the Financial Review named Lend Lease and Australia’s sovereign wealth fund as the preferred bidders.The unlisted ING fund, which may be valued at A$1.4bn, is due to pick a buyer today, the Financial Review reported. Australia’s Future Fund and Lend Lease’s fund management unit will hold the Joondalup asset, while the other properties will be kept in a separate vehicle, the newspaper said.The ING Retail Property Fund includes 17 properties in Australia and New Zealand, according to the fund’s Web site. bloomberg.comlast_img