As reported by the Australian Financial Review, the asset, with over 340,000 sq ft of retail space, is reportedly valued at over $1 billion.
DBS Group Research is keeping its "buy" call and 75 cents target price on Lendlease Global Commercial REIT following suggestions that it might be poised to acquire a 70% stake in PLQ mall. The event, if it manifests, is an "overall positive", says DBS in its Sept 23 note.
According to Tony Lombardo, CEO of Lendlease Group, the REIT's sponsor, ADIA, or the Abu Dhabi Investment Authority, is looking to sell its 70% stake in the PLQ mall. The remaining 30% is held by Lendlease.
