UPDATE 1-Stockland says in talks on a number of properties

(Adds company comment, shares)

SYDNEY, May 27 (Reuters) - Australian property developer Stockland Group (SGP.AX) said on Tuesday it is in talks over a number of properties, including its A$1.5 billion ($1.4 billion) QIC portfolio of three large shopping centres.

Earlier on Tuesday The Australian Financial Review newspaper said Stockland, which owns more than A$10 billion of housing estates, shopping centres and office buildings, is looking to raise cash by selling up to A$1.9 billion of property assets.

Without giving sources, the paper said an agreement on terms of any sale could come by Friday, while a sale would raise speculation that Stockland is planning a big acquisition.

Stockland owns the largest land bank in Australia and like other property companies has faced a dramatic rise in funding costs amid the global credit crunch.

Debt-laden mall owner Centro Properties Group (CNP.AX) has previously said it is seeking bids for 25 of its shopping centres.

Stockland said in a statement it was "currently in discussions with several parties involving a number of properties, including QIC."

In December, Stockland sold its 50 percent stake in three New Zealand shopping centres to AMP New Zealand Property Retail Ltd for A$322 million, saying it was looking at opportunities in Australia and the UK.

The company made its first acquisition outside Australia and New Zealand in February when it bought the Halladale Group, a UK property development and investment company, for 171 million pounds.

Shares in Stockland, which has estimated that earnings per share in the current year will rise 5 percent, were down 2.8 percent at A$6.02 at 0225 GMT in a modestly firmer broader market .AXJO. ($1=A$1.04) (Reporting by Miranda Maxwell)