Warburg Pincus-Lendlease JV Platform Acquires ~S$1.6 Billion Asset Portfolio in Singapore
The JV platform jointly established by Warburg Pincus and Lendlease recently announced it has, together with its managed investment vehicle LINO, acquired a ~S$1.6 billion portfolio of assets in Singapore from entities associated with Blackstone and Mr. Lim Chap Huat, Executive Chairman of Soilbuild Group Holdings Ltd. This represents 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 officially launched on 31 July 2024 to focus on life sciences and R&D real estate in Asia Pacific. With a total gross floor area of 4.5 million square feet, the portfolio comprises high-quality business parks and specialist facilities situated within established designated precincts across Singapore, tenanted to blue chip companies across life sciences, technology, advanced manufacturing and logistics. The transaction solidifies the JV platform as the market-leading life sciences and R&D real estate platform in Asia Pacific with over S$2 billion of assets under management, and is consistent with the strategy of capitalising on attractive opportunities in the region’s rapidly expanding real estate sector.
Takashi Murata, Managing Director, Co-Head of Asia Real Estate and Head of Japan at Warburg Pincus, said, “We are delighted to be completing this landmark acquisition shortly after establishing the JV platform. The portfolio gives us immediate scale in the tightly held Singapore market, cementing our position as one of the top industrial asset owners in Singapore and reiterating our conviction in the life sciences and R&D sector.”
Justin Gabbani, CEO Investment Management, Lendlease, said, “This strategic acquisition underscores our commitment to the rapidly expanding life sciences and R&D real estate market in Asia Pacific. The platform is well-positioned to capture opportunities in the sector. We look forward to building momentum and further scaling the business, as well as driving performance for our investment partners.”