LEND Lease has reached financial close on Group B of the US Department of the Army’s Privatisation of Army Lodging program and secured $US275 million (circa $A265 million) in project debt.
Lend Lease is the developer for the PAL program, part of the US Army’s initiative to privatise hotel facilities on army installations nationwide.
Lend Lease CEO Steve McCann said the collaboration with the US Army demonstrates Lend Lease’s long-term commitment to privatised partnerships like PAL.
Lend Lease has developed than 40,000 homes, 8,200 hotel rooms and 192 apartments throughout the US for the army.
Property Review
