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Lendlease REIT raises $648.8 mil from equity fund raising; preferential offering 1.4 times subscribed

Felicia Tan
Felicia Tan4/15/2022 11:54 PM GMT+08  • 2 min read
Lendlease REIT raises $648.8 mil from equity fund raising; preferential offering 1.4 times subscribed
Jem. Photo: LREIT
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The manager of Lendlease Global Commercial REIT (LREIT) says it has raised gross proceeds of $648.8 million from its equity fund raising.

Of the total amount, $248.8 million were raised through the preferential offering, where 345.58 million new units were issued at 72 cents apiece.

The preferential offering was 137.4% or about 1.4 times subscribed, which means no excess application was needed to be made by Lendlease GCR Investment Holding and the REIT manager.

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