By David Winning

SYDNEY--Lendlease said it has agreed to sell a 40% stake in The Exchange TRX mall and its 60% interest in the adjacent office tower in Malaysia for 400 million Australian dollars, equivalent to about US$265 million.

Lendlease said on Monday that it is selling the assets to the Valiram Family Office, a Malaysian investor.

Lendlease said its remaining 20% interest in The Exchange TRX mall will move into its Investments segment once the deal completes, likely in the second half of its 2026 fiscal year.

The company said it would retain for now a 60% interest in residential plots of land and a 60% interest in an adjacent hotel, which have a combined book value of more than A$200 million.

"Lendlease has appointed advisers alongside its joint venture partner, TRX City, for the sale of 100% of the hotel, while options for the land holding continue to be explored," the company said in a regulatory filing.

Lendlease said it continues to target A$2 billion of capital recycling from its so-called Capital Release Unit in the 2026 fiscal year. That goal includes the partial sale of interests in the TRX complex.

Write to David Winning at david.winning@wsj.com

(END) Dow Jones Newswires

December 21, 2025 18:38 ET (23:38 GMT)

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