Lend Lease Floats NZ Mall Fund

Property developerLend Leasehas rolled out a New Zealand shopping centre fund,The Australianreports. The fund has been launched with four properties worth $153 million that the company secured through its last year’s acquisition ofING Retail Property Fund.

The four centers comprise three Dress Smart outlet centres in Auckland, Wellington and Christchurch, and theMeridian Mall, the largest central shopping centre in Dunedin. The properties will seed the LendLease Real Estate PartnersNew Zealand Fund, a wholesale investment fund, in which the company will have a 5.3 percent investment.

Click here for the story fromThe Australian.

Click here for additional coverage fromThe Sydney Morning Herald.