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Lend Lease May Be In Play

ATLANTA-Lend Lease officials would neither confirm nor deny to GlobeSt.com local published reports speculating the 750-person firm may be sold by year's end.

By Alex Finkelstein | Updated on October 31, 2002

ATLANTA-Officials at Lend Lease Real Estate Investments Inc., one of the largest real estate investment managers in the world, could be on the selling block by year end, according to a locally published report. A Lend Lease spokeswoman would neither confirm nor deny the report’s accuracy to GlobeSt.com.

Lend Lease has a staff of 750 in the affluent Atlanta suburb. Fred N. Pratt Jr., who joined Lend Lease through its 1999 acquisition of Boston Financial, is the company’s CEO for United States operations, based in Atlanta.

The reports cite a release by the parent company in Australia, which claims that Lend Lease Corp. is “evaluating alternatives to maximize shareholder value from its (real estate investments) business.” The article states Lend Lease has retained several financial advisers to analyze a possible sale of the Buckhead division.

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