Lendlease Global Commercial REIT’s Acquisition of 53% Stake in Lendlease Jem

Lendlease Global Commercial REIT's Acquisition of 53% Stake in Lendlease Jem

Conyers, working alongside Allen & Gledhill LLP, provided Bermuda legal advice to Lendlease Global Commercial Trust Management Pte. Ltd.

Lendlease Global Commercial Trust Management Pte. Ltd., in its capacity as manager of Lendlease Global Commercial REIT, acquired a 53% stake in a Bermuda investment fund, Lendlease Jem Partners Fund Limited for approximately S$159.1 million. 

The transaction also contemplates the acquisition by LREIT of shares in another Bermuda investment fund, Lendlease Asian Retail Investment Fund 3 Limited. 

LLJP and ARIF3 hold a 25% and 75% indirect interest, respectively, in Jem, an integrated office and retail real estate asset in Singapore.

This acquisition follows on from an earlier transaction in 2020 where Conyers provided Bermuda legal advice to LREIT when it acquired a 5% stake in ARIF3 for approximately S$45 million.

LREIT is a Singapore real estate investment trust that invests in a diversified portfolio of real estate assets which are globally located, mainly used for retail and/or office purposes. LREIT was listed on the Singapore Stock Exchange on 2 October 2019. (SGX: JYEU)

Conyers’ Singapore office team included Director Preetha Pillai (Picture) and Paralegal Fadhilah Tan.

Involved fees earner: Preetha Pillai – Conyers Dill & Pearman;

Law Firms: Conyers Dill & Pearman;

Clients: Lendlease Global Commercial Trust Management Pte. Ltd.;

Author: Sonia Carcano