Lendlease REIT completes PLQ Mall deal, deploys $234.5m placement funds

About $45.5m was also earmarked for fees and debt reduction.

Lendlease Global Commercial REIT has completed the acquisition of a 70% stake in PLQ Mall via units in PLQM Trust and 70% of the trustee‑manager of PLQM Trust, according to a filing.

The transaction was financed through a private placement launched on 5 November 2025, which raised gross proceeds of approximately $280.0m. Of this, $234.5m (83.7%) has been applied to fund the consideration for the sale units and shares, slightly above the allocated amount disclosed earlier.

The remaining $45.5m (16.3%) will be used to cover professional fees and expenses related to the acquisition and placement, and to pare down existing debt.

The manager said the reallocation reduced proceeds originally earmarked for debt repayment by $0.2m.

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Lendlease Global Commercial REIT

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