Warburg, Lendlease Buy $1.2 Billion of Real Estate in Singapore

A joint venture backed by private equity giant Warburg Pincus LLC has bought about S$1.6 billion ($1.2 billion) of real estate assets in Singapore, in the largest commercial deal in the city-state this year.

The as yet unnamed platform, which is also backed by Australia’s Lendlease Corp., will acquire business parks and specialist facilities that cater to life sciences and research and development companies. The portfolio spans a gross floor area of 4.5 million square feet across Singapore, the companies said in a statement Tuesday.