Lendlease and Warburg Pincus JV acquires $1.6b in Singapore assets

The acquisition marks the first transaction for the JV platform.  

Lendlease, through a joint venture (JV) with investment firm Warburg Pincus, has acquired around $1.6b in portfolio assets in Singapore.

The assets were acquired from entities associated with Blackstone and Mr. Lim Chap Huat, executive chairman of Soilbuild Group Holdings. 

Combined, the portfolio has a total gross floor area of 4.5 million sqft, comprising of business parks and specialist facilities situated within established designated precincts across Singapore, according to a joint press release by Lendlease and Warbug-Pincus.

The assets are tenanted to blue-chip companies across life sciences, technology, advanced manufacturing and logistics sectors.

This represents one of the largest transactions of a private portfolio of industrial assets in Singapore, the JV said.

The acquisition marks the first transaction for the joint venture (JV) platform since it was officially launched on 31 July 2024, to focus on life sciences and R&D real estate in Asia-Pacific.