Guggenheim Partners Investment Management to acquire the US military housing business of Lendlease Group for AUD480m.

Guggenheim Partners Investment Management, the global asset management and investment advisory division of Guggenheim Partners, agreed to acquire the US military housing business of Lendlease Group, a multinational construction and real estate company, for AUD480m. "With AUD1.9bn of transactions already announced, including the sale of US Military Housing, we have made significant progress towards our target of recycling AUD2.8bn of capital in the next 12 months. As this transaction demonstrates, we continue to take a disciplined approach to capital recycling, achieving premiums to book value, as we balance speed of execution with achieving value for our securityholders," Tony Lombardo, Lendlease Group CEO.