International property and infrastructure company Lendlease Group (ASX: LLC) has teamed up with Starwood Capital to acquire the $6.3 billion Silvertown Partnership development in London, according to The Australian.
The article explains the pair are jointly acquiring the massive site from existing shareholders First Base via a managed fund of Chelsfield Properties and Macquarie Capital on a 50% co-investment basis.
But investors are lukewarm to the news if today’s share price is anything to go by, with Lendlease shares down 0.2% to $19.07 at the time of writing after four months of successful share price rises after a February low.
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Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.