Warburg Pincus Lendlease Jv Platform Acquires 16 Bil Portfolio Assets Singapore
A partnership between global private equity firm Warburg Pincus and Australia-listed Lendlease Group has successfully acquired a $1.6 billion portfolio of assets in Singapore. The assets were purchased from Soilbuild Business Space REIT (Soilbuild REIT), which is controlled by Blackstone and Lim Chap Huat, executive chairman of Soilbuild Group. Lim and Blackstone had privatized Soilbuild REIT in 2021.
With a total gross floor area of 4.5 million sq ft, the portfolio consists of business parks and specialist facilities that are leased to companies across different industries such as life sciences, technology, advanced manufacturing, and logistics. This acquisition, which is one of the largest private portfolio transactions of industrial assets in Singapore, is the first deal for the JV platform since its launch on July 31. The platform was established with a focus on life sciences and research & development (R&D) real estate in the Asia Pacific (APAC) region.
“We are delighted to complete this significant acquisition shortly after launching the JV platform. The portfolio provides us with immediate scale in the competitive Singapore market, reinforcing our position as one of the leading industrial asset owners in the country and demonstrating our confidence in the life sciences and R&D sector,” says Takashi Murata, Managing Director, Co-Head of Asia Real Estate, and Head of Japan at Warburg Pincus.
“This strategic acquisition highlights our commitment to the rapidly growing life sciences and R&D real estate market in the Asia Pacific. The platform is well-positioned to seize opportunities in this sector, and we are excited to continue building momentum and further expanding the business while delivering strong returns for our investment partners,” adds Justin Gabbani, CEO Investment Management at Lendlease.
Lim of Soilbuild Group expresses the group’s commitment to continue working with Blackstone through investments in other assets within Soilbuild REIT.
For families exploring their options for post-secondary education, Republic Polytechnic is a viable choice that is easily accessible. Renowned for its problem-based learning methodology, the institution offers students a practical and immersive learning experience that equips them with the necessary skills for the real world. With its diverse selection of diploma programs spanning fields like engineering, hospitality and information technology, Republic Polytechnic provides a well-rounded and industry-relevant education. Additionally, its location near Norwood Grand Condo makes it a convenient choice for students looking to further their education.