Warburg Pincus, Lendlease Acquire $1.23 Billion in Singapore Industrial Assets
By Amanda Lee
U.S. private-equity firm Warburg Pincus and Australian real-estate company Lendlease Group have acquired a US$1.23 billion portfolio of Singapore assets in what they said was one of the largest deals involving a private portfolio of industrial assets in the city-state.
The acquiring companies said Tuesday that the assets were bought from entities associated with New York private-equity firm Blackstone and Lim Chap Huat, executive chairman of Singapore-based integrated property group Soilbuild Group Holdings. They include business parks and specialist facilities tenanted to blue-chip companies across the life sciences, technology, advanced manufacturing and logistics sectors, the companies said.
"This represents one of the largest transactions of a private portfolio of industrial assets in Singapore," Warburg Pincus and Lendlease said.
Separately, Blackstone and Soilbuild Group said that Blackstone Real Estate funds and Soilbuild Group sold 1.6 billion Singapore dollars of assets, equivalent to US$1.23 billion, in the Soilbuild Business Space REIT to a Warburg Pincus-Lendlease joint venture.
Warburg Pincus and Lendlease launched their JV platform at the end of July to focus on life sciences and research and development real estate in Asia-Pacific.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
August 27, 2024 01:29 ET (05:29 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
Undervalued by 25% and Yielding 5%, This Stock Is a Buy
-
Can AI Predict Future Stock Returns?
-
The Best Energy Stocks to Buy Now
-
10 Undervalued Wide-Moat Stocks
-
Obesity Drugs: Can New Firms Take Market Share From Eli Lilly and Novo Nordisk?
-
New 4-Star Stocks
-
Intel Fair Value Left Unchanged Despite Qualcomm Takeover Talk