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Lendlease, Dutch pension fund manager invest $1b for life and science assets

The investment will focus on Australia, Japan, and Singapore.

Lendlease Innovation Limited Partnership will be established for a $1b investment on real estate properties in the innovation and life science assets, real estate firm, revealed.

Lendlease will establish with Dutch pension fund manager PGGM the Lendlease Innovation Limited Partnership.

Worth $1b, the two firms will invest in real estate assets in innovation and life science space in Singapore, Australia, and Japan. There will be an 85%-15% split in interest, in favour of the Dutch firm. 

READ MORE: Lendlease reveals decarbonisation roadmap for Asia

According to Lendlease, it will offer its services on investment management and development management to the invested assets.

The first property in their portfolio is a 12-storey commercial property which is near high-tech, research and development, and innovation operations at Minato Mirai district in Yokohama, Japan which is home to established firms including Sony, Shiseido, and Hyundai.

Jikke de Wit and Ping Ip from PGGM Private Real Estate said boosting their focus on health and technology will strengthen innovation and life science sectors in Asia Pacific.

“This focus on life sciences is supported by our client PFZW who manages a pension scheme for the Dutch healthcare sector with three million members,” they said in a joint statement.

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