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.
