Lendlease Group (ASX:LLC) has reached a binding agreement to sell its infrastructure platform, Capella Capital, to Japan's Sojitz for AU$235 million, according to a Friday filing with the Australian bourse.

The sale is expected to generate AU$70 million to the company's fiscal year operating profit after tax and is part of Lendlease's capital recycling strategy, the filing said.

Sojitz will acquire Lendlease's interests in Capella's asset origination, management, and equity investments, with around 80 employees transferring.

Both companies will continue collaborating under a limited transitional services agreement on ongoing and future projects, the filing added.

The sale is subject to Foreign Investment Review Board approval and other third-party consents, with completion expected by the end of the fiscal year.

Lendlease also completed the AU$516 million sale of its US Military Housing business to Omaha Beach Investment Holdings, managed by Guggenheim Partners, the company said.

The company reaffirmed its fiscal year earnings guidance, expecting group earnings per security in the range of AU$0.54 to AU$0.62, the company added.

Fiscal-first half earnings per share is anticipated to be in the range of AU$0.17 to AU$0.20, with a stronger second half, due to the movement of Military Housing profits.

Shares of the company rose 3% in recent Thursday trade.

Price (AUD): $6.57, Change: $+0.20, Percent Change: +3.06%