Lendlease Global REIT (SGX:JYEU) issued a total of 29,124,791 units as payment of management fees and property management fees, according to a filing with the Singapore Exchange on Monday.
23,873,358 units were issued to its manager, Lendlease Global Commercial Trust Management, as 100% of the base management fee and performance fee for the fiscal third quarter ended March 31, fiscal fourth quarter ended June 30, and fiscal 2024 ended June 30.
In addition, 5,251,433 units were issued to Lendlease GCR Investment Holding as payment of 100% of the property management fee relating to the properties, 313@somerset and Jem, the filing said.
Lendlease GCR Investment Holding was nominated by property manager, Lendlease Retail, to receive the units in its place.
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