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Article: Lend Lease Reaches Memorandum of Understanding to Purchase Boston Financial Group; Acquisition Would Advance Industry Leadership Position; Expand Multifamily Operations.
- Article from:
- Business Wire
- Article date:
- July 29, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK--(BUSINESS WIRE)--July 29, 1999--
Lend Lease Real Estate Investments, Inc., the U.S. subsidiary of Lend Lease Corporation (ASX: LLC) and the leading U.S. institutional real estate advisor as ranked by assets under management, announced today it has reached a memorandum of understanding to acquire The Boston Financial Group, Limited Partnership, a privately-owned institutional manager and real estate services company, which is one of the largest apartment (multifamily) investment managers in the United States. The two companies would have more than $30 billion in assets under management and close to 100,000 apartment units in their combined portfolios.
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