Stockland, a property group that develops and manages various types of properties, and Supalai, a real estate development company, agreed to acquire 12 Masterplanned Communities from Lendlease Group, a provider of innovative and sustainable property and infrastructure solutions, for AUD1.06bn. “The acquisition represents a step change in the reshaping of our portfolio and accelerates the execution of our strategy by increasing our capital allocation towards residential sectors while scaling our capital partnership platform and generating new sources of recurring income. We are pleased to be forming the Stockland Residential Communities Partnership with our existing partner, Supalai, who has a strong track record of investing in residential developments across Australia and is aligned with our strategic ambitions. SRCP achieves immediate scale with this acquisition, and we are excited to further develop the partnership alongside Supalai,” Tarun Gupta, Stockland Managing Director and CEO.