Representing one of the largest transactions of a private portfolio of industrial assets in Singapore, the acquisition marks the first transaction for the JV platform since it was launched on July 31. The platform was established to focus on life sciences and research & development (R&D) real estate in Asia Pacific (APAC).
A joint venture (JV) platform by global private equity firm Warburg Pincus and Australia-listed Lendlease Group has acquired a $1.6 billion portfolio of assets in Singapore.
The assets, which have a total gross floor area (GFA) of 4.5 million sq ft, were acquired from entities associated with Blackstone and Lim Chap Huat, the executive chairman of Soilbuild Group Holdings, said the joint release by Warburg Pincus and Lendlease on Aug 27. The portfolio comprises high quality business parks and specialist facilities that are tenanted to blue chip companies across life sciences, technology, advanced manufacturing and logistics.
