GIC acquired a 25.1% stake in Lendlease International Towers Sydney Trust from CPPIB and Lendlease.

GIC, Singapore’s sovereign wealth fund, acquired a 25.1% stake in Lendlease International Towers Sydney Trust, which holds assets located in the Barangaroo Office Precinct in the Sydney Central Business District, from CPPIB and Lendlease. Financial terms were not disclosed. Lee Kok Sun, Chief Investment Officer, GIC Real Estate, said, “These high-quality assets, situated in the heart of Sydney’s CBD, are expected to generate attractive risk-adjusted returns in the long run. As a long-term investor, we will continue to seek good investment opportunities that will add value to our global portfolio.”