Macquarie Property purchased a "substantial minority stake" in Ochtar...

Macquarie Property purchased a "substantial minority stake" in Ochtar Capital Partners, a Bermuda-based private equity real estate investment firm formerly owned by Lend Lease, said Andrew Wood, chief operating officer. The renamed firm, Macquarie Global Property Advisors, brings with it $1.6 billion in assets; the nine-member management team that bought Ochtar from Lend Lease in February will retain control of the company and will keep its headquarters and staff. Macquarie Property, the real estate division of Macquarie Bank of Australia, has more than $8.5 billion under management.