Aussie Bank Forms JV With Bermuda Firm

Macquarie Bank Ltd., an Australian company, has announced the formation of a joint venture between its real estate division, Macquarie Property, and Ochtar Capital Partners Ltd., Bermuda.To form the joint venture, Macquarie will subscribe to a shareholding in Ochtar, which will be renamed Macquarie Global Property Advisors and focus on real estate investments in Europe and Asia, the bank said. MGPA will advise Lend Lease Global Properties SICAF (previously advised by Ochtar), which is fully invested in European and Asian properties and manages US$1.6 billion in assets. It will also develop more equity real estate investment products and services for the Asian and European markets.