Lend Lease Group (ASX:LLC) has secured $2 billion of commitments for the funding and development of two commercial towers at its $6 billion Barangaroo South development in Sydney.
The property developer has secured commitments from a number of cornerstone investors including Canada Pension Plan Investment Board who are pouring in $1 billion.
Lend Lease will also invest up to 25 per cent or $500 million in the first two towers as part of its strategy of investing alongside capital partners.
Westpac Banking Corporation (ASX:WBC) and KPMG are among the new tenants at Barangaroo South who inked agreements to lease floor space last month.
In the first half of its 2012 financial year Lend Lease Group generated a net profit of $219 million.
