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Boston & New England  + Boston  + Finance  |  September 18, 2020
David Cohen
By: David Cohen

Lendlease, Aware Super Execute $200M Recapitalization of Boston and Chicago MF Portfolio

International property and investment group Lendlease has closed nearly $200 million in recapitalization loans on its multifamily assets in Boston and Chicago held through its U.S. investment vehicle with Aware Super.

In 2018, Lendlease and Aware Super, established a new $2 billion investment partnership to develop and hold multifamily assets in U.S. gateway cities. The properties that have been recapitalized were not disclosed. Lendlease worked with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) and Singapore’s OCBC Bank to close the two deals.

“After the successful delivery of Clippership Wharf and The Cooper at Southbank, this recapitalization event was an important step to repatriate capital to reinvest in further multifamily development projects and assets across our key U.S. gateway cities through our partnership with Aware Super,” said Ben Byrne, portfolio manager at Lendlease. “We value the support of our international partners who trust our vision for the portfolio and who helped us reach this milestone.”

*Pictured above is a rendering of Clippership Wharf, a multifamily development in East Boston being developed by Lendlease. 

For comments, questions or concerns, please contact David Cohen

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
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