Lend Lease
(ASX:LLC) says it will open a new commercial wholesale property fund to invest in the near $2 billion commercial Tower 1 at its Barangaroo project in Sydney.
The fund will be called Lend Lease One International Towers Sydney Trust and will acquire 100 per cent of the Tower.
Qatar Investment Authority will take a 37.5% stake and Australian Prime Property Fund will take a 25 per cent investment.
It is the second fund established in the precinct which Lend Lease says is 66 per cent preleased across all three towers currently under construction.
Lend Lease reported a half yearly net profit of $315 million for the 2015 financial year.
