Conyers provided Bermuda legal advice to Lendlease Global Commercial Trust Management Pte. Ltd. (in its capacity as manager of Lendlease Global Commercial REIT) (“LREIT”) in connection with its acquisition of a 53% stake in a Bermuda investment fund, Lendlease Jem Partners Fund Limited (“LLJP”), for approximately S$159.1 million. The transaction also completes the acquisition by LREIT of shares in another Bermuda investment fund, Lendlease Asian Retail Investment Fund 3 Limited (“ARIF3”). 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)
Director Preetha Pillai and Paralegal Fadhilah Tan of Conyers’ Singapore office advised on the matter working alongside Allen & Gledhill LLP.