Shareholder activist target Lendlease has sold its Capella Capital infrastructure financing business to Japanese trading company Sojitz Corporation for $235 million, advancing its strategy to radically downsize the business with $2.2 billion worth of deals.

Earlier this month, Lendlease offloaded its UK construction arm. The developer, which last year embarked on a restructure after sustained pressure from institutional shareholders, also said it had completed the $516 million ($US320 million) sale of its US Military Housing business – a deal it initially expected to settle by the end of December 2024.