Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY-Winn Management Company will absorb the property management division of Lend Lease Real Estate Investments, nearly doubling their management portfolio. Under the terms of the agreement, Lend Lease will retain a minority interest in Winn. Mary Beth Lally, director of corporate communications for Lend Lease, tells GlobeSt.com the transaction will close by the end of the fourth quarter.

“Property management is not a core activity for us, and this transaction fits with our strategy to focus on our institutional investment management business,” says Fred Pratt, CEO of Lend Lease. “Our minority interest in Winn Management will position us to continue to influence how our significant apartment portfolios are managed on a day-to-day basis for our clients.” William W. Wollinger, president of Winn Management, will serve as president and COO of the merged company, which will operate from Winn’s corporate headquarters in Boston with divisional offices in California, Virginia and Ohio. Winn Management Co. was founded in 1972 and is an affiliate of the Winn Development Company.

Lend Lease will continue to provide investment management services for its client portfolios with more than 134,000 apartment units. The company is a leading advisor to pension funds and other institutions investing in multifamily properties. Lend Lease acquired its property management business in late 1999 as part of the acquisition of Boston Financial Group.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.