have acquired a $S1.6 billion portfolio of life sciences and research facilities in a move that helps Lendlease show investors it is boosting investment in alternative assets.
Sold: The two-tower Solaris business park development at 1 Fusionopolis Walk in Singapore is one asset acquired in the $1.8 billion portfolio by the Lendlease-Warburg Pincus joint venture. “The platform is well-positioned to capture opportunities in the sector. We look forward to building momentum and further scaling the business, as well as driving performance for our investment partners.”Key part of strategyin which the company held a 15 per cent stake – is a key part of the strategy Lendlease boss Tony Lombardo reinforced last week.
But it needs investors to believe it is on the right track. The company’s earnings before interest, taxes, depreciation, and amortisation from investment in FY24 nearly halved from a year earlier to $174 million. Excluding the previous year’s gain from the sale of its military housing business, the decline was 9.8 per cent.
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