 DFC entered the real estate development market in 1969 via a indenture signed by its subsidiary, Delfin Management Services Pty Ltd and the Government of South Australia to built a real estate development to be called “West Lakes” in the upper estuary of the Port River (known as the Upper Port Reach) to the north-west of the Adelaide city centre.In 1983, DFC was acquired by ANZ Bank.After separating from ANZ, Delfin Property Group was acquired by Lend Lease Corporation in 2001 for $172 million (AUD).