is confirmed.

The parts of the equity advisory business included in the transaction are all separate account mandates and commingled funds including the Prime Property Fund, but excluding the Value Enhancement Funds, Rosen Consulting Group and Lend Lease Rosen Real Estate Securities. The $2.6 billion Prime Property Fund, formed in 1973, has a geographically diversified portfolio of office buildings, shopping centers, industrial properties, apartments and hotels.

The Lend Lease Rosen Real Estate Securities LLC affiliate manages $1.6 billion in separate accounts and commingled funds. Lend Lease Rosen advises Lend Lease Real Estate Investments on its REIT investments for its own funds and client portfolios, and is Lend Lease's exclusive REIT management firm. Rosen Consulting is a California-based real estate and regional economics research and consulting firm. Value Enhancement Funds II and III are in a series of four closed-end, enhanced return real estate investment funds designed to take advantage of inefficiencies at varying stages in the real estate cycle. Since the inception of VEF I in 1993, the series of funds has found value in almost $2 billion in commercial real estate throughout the US.

"We are retaining ownership of Rosen Consulting Group and Lend Lease Rosen Real Estate Securities, as well as the management of the VEF series of funds, says Lend Lease Group CEO Greg Clarke. "We will continue with a review of options for these businesses."