This week’s deal saw Lend Lease purchase over 7 million BBC shares after the price dropped to 43 cents.
BBC merged with Primelife in May last year and is now estimated to be Australia’s second-biggest retirement operator.
Lend Lease took an interest in BBC after FKP rejected its $1.33 billion takeover bid last month.
It is believed that the company is hoping to build on its 3 per cent share of the Australian retirement village industry.
But The Australian reported that a full takeover of BBC may prove to be too expensive and complicated for Lend Lease.