Lendlease Global Commercial REIT is acquiring a 10% stake in the Parkway Parade Partnership (PPP) for about S$88.9 million:

PPP indirectly holds 77.09% of the share value in Parkway Parade, an integrated office and retail asset located in Marine Parade.

The purchase consideration is based on PPP’s net asset value (NAV), which takes into account the agreed market value of Parkway Parade, which is around $1.38 billion.