Multinational property management Lend Lease Group (ASX: LLC) will have a helping hand in its planned community projects and apartment developments in Australia.

A major Japanese home builder, Sekisui House Australia Holdings Pty Limited, will acquire 50 percent interest in several of the group's projects. Lend Lease has a 144 apartment development Serrata at Victoria Harbour in Melbourne.

The Japanese company will also purchase a land interest at Hyatt Coolum on the Sunshine Coast. Up to 450 new homes are expected to be constructed under the agreement. A 50 percent interest in the adjoining Hyatt Coolum resort will be sold to Sekisui.

For its part of the bargain, Lend Lease will provide development, project management, and construction services to the joint ventures. The Australian property group is discussing development management services for Sekisui's Wentworth Point apartment project near Homebush in Western Sydney. The two companies will around 1,200 apartments in the area.

Lend Lease is also eyeing two Sekisui residential land projects in Western Sydney and South East Queensland for future joint ventures.

The group will “identify further opportunities for Sekisui House to develop homes on Delfin Lend Lease community projects and to identify other joint residential development opportunities.”