Lendlease, on June 20, announced that it has entered into a partnership with Dutch pension fund manager PGGM to create the Lendlease Innovation Limited Partnership.
The $1 billion partnership will invest in real estate assets in the innovation and life science space with a focus on Australia, Japan and Singapore.
Under the partnership, PGGM will hold an 85% stake while Lendlease will hold the remaining 15%.
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