The manager of Lendlease Global Commercial REIT (LREIT) has announced that it is increasing its stake in Jem through the acquisition of a 53% stake in Lendlease Jem Partners Fund for $153.1 million, as well as the acquisition of up to 19.8% interest in Lendlease Asian Retail Investment Fund 3 (ARIF3) for a total of up to $178.2 million.

The acquisition in ARIF3 includes a 5% stake being acquired from Lendlease International for $45 million, while the remainder would be acquired from third-party vendors.

Upon completion of the proposed acquisition, LREIT will hold an effective indirect interest of up to 31.8% in Jem. 

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