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LONDON-Ten new investors have invested $75 million ($120 million) in the Lend Lease Retail Partnership. The Partnership, one of the UK’s largest limited partnerships, owns the 650,000-sf Touchwood shopping mall in, Solihull, West Midlands and a 25% interest in the 1.3 million-sf Bluewater in north Kent.

The units were marketed by two existing investors in the fund. The new investors include the pension funds of Bedfordshire County Council; Six Continents ; Dorset County Council; Royal Ordnance; Greater Manchester Council and West Sussex County Council as well as the Liverpool Victoria Friendly Society and Skandia Life. Investments ranged from £1 million ($1.6 million) and £15 million ($24 million).

Charles Foster-Taylor, Chief Executive Officer, Lend Lease Real Estate Investments Limited – Europe, said: “The high level of interest in Lend Lease’s Retail Partnership has been underpinned by the strong appetite by investors for indirect investments in prime shopping centres, and the introduction of the new investors through the secondary market also demonstrates the flexibility and liquidity of the limited partnership structure.”

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