Lendlease Global Commercial REIT (JYEU) announced on Nov, 27 2025 that it has completed the purchase of a 70% interest in PLQ Mall through the acquisition of units in PLQM Trust, along with 70% of the trust’s trustee-manager.

The transaction was funded mainly from the 280 million Singapore dollars raised via a private placement launched on Nov, 5 2025. About 234.5 million Singapore dollars, representing 83.7% of the placement proceeds, has been applied toward the consideration for the mall units and trustee-manager shares.

The manager re-allocated 0.2 million Singapore dollars from funds originally earmarked for debt reduction, leaving approximately 45.5 million Singapore dollars, or 16.3% of the proceeds, to cover professional fees, other acquisition expenses and to pare down existing debt.

The manager said the placement proceeds have now been “materially disbursed” in line with the stated use of funds.