# Lendlease sets up JPY120 billion Japan investment partnership with PGGM

- **Source:** EdgeProp Singapore
- **Published:** 2026-07-17T10:20:02.000Z
- **Author:** EdgeProp Singapore
- **Original:** https://www.edgeprop.sg/property-news/lendlease-sets-jpy120-billion-japan-investment-partnership-pggm
- **Topics:** Commercial & Industrial, Government & Policy, Investment & Capital Markets

## Featured rationale

The partnership signals institutional confidence in Japanese logistics and offices and could support further renovation, conversion and repositioning of assets in Greater Tokyo and Osaka.

## AI summary

Lendlease and PGGM established a JPY120 billion (~S$954.1 million) partnership to acquire and upgrade logistics and office assets across Japan.

## Original article

Lendlease announced a new investment partnership with Dutch pension fund manager PGGM to establish the Lendlease Japan Modernisation Partnership (LLJMP). The JPY120 billion (~S$954.1 million) partnership will acquire and upgrade logistics and office assets across Japan, with an initial focus on Greater Tokyo and Greater Osaka.

Lendlease holds a 5% minority co-investment and will drive value creation through active management, large-scale renovations, asset conversions, extensions, and repositioning to meet evolving tenant needs.

The partnership strengthens Lendlease's Asia Pacific investment portfolio while tapping into Japan's attractive logistics and office sectors. Penny Ransom, Lendlease CEO of investment management, notes: "Japan remains one of the world's most attractive real estate markets, underpinned by compelling structural opportunities in the logistics and office sectors."

Read also: M&G expands Australian logistics portfolio with A$438 mil acquisitions

PGGM senior director of private real estate, Jikke de Wit, adds: "By combining our long-term capital with Lendlease's local expertise and execution capabilities, we are well positioned to deliver resilient returns for our pension fund client PFZW while supporting the evolution of high-quality real estate in Japan."

## Chinese translation

> Translation model: grok

### Lendlease与PGGM设立1,200亿日元日本投资伙伴关系

该1,200亿日元（约9.541亿新元）伙伴关系将在日本各地收购并升级物流与写字楼资产。

Lendlease宣布与荷兰养老基金管理人PGGM建立新投资伙伴关系，设立Lendlease Japan Modernisation Partnership（LLJMP）。该1,200亿日元（约9.541亿新元）伙伴关系将在日本各地收购并升级物流与写字楼资产，初期聚焦大东京及大阪都市圈。

Lendlease持有5%少数股权共同投资，并将通过积极管理、大规模翻新、资产转换、扩建及重新定位，满足租户不断演变的需求，从而驱动价值创造。

该伙伴关系强化Lendlease的亚太投资组合，同时切入日本具吸引力的物流与写字楼领域。Lendlease投资管理首席执行官Penny Ransom指出：“日本仍是全球最具吸引力的房地产市场之一，物流与写字楼领域具备引人注目的结构性机遇。”

另读：M&G以4.38亿澳元收购扩展澳大利亚物流组合

PGGM私人房地产高级董事Jikke de Wit补充：“通过将我们的长期资本与Lendlease的本地专长及执行能力结合，我们具备良好条件，为养老基金客户PFZW带来具韧性的回报，同时支持日本优质房地产的演进。”