S$1.6 billion acquisition of portfolio of assets in Singapore by Warburg Pincus LLC and Lendlease Corporation
Allen & Gledhill, as transaction counsel, advised Warburg Pincus LLC (“Warburg Pincus”) and Lendlease Corporation (“Lendlease”), through their joint venture platform (“JV platform”), in the acquisition of approximately S$1.6 billion portfolio of assets in Singapore (“Acquisition”).
The portfolio was acquired from entities associated with Blackstone and Mr. Lim Chap Huat, Executive Chairman of Soilbuild Group Holdings Ltd, and represents one of the largest transactions of a private portfolio of industrial assets in Singapore. It comprises a total gross floor area of 4.5 million square feet in high quality business parks and specialist facilities situated within established designated precincts across Singapore, tenanted to blue chip companies across life sciences, technology, advanced manufacturing and logistics.
In relation to the Acquisition, Allen & Gledhill also advised the JV platform on the S$1,056 million term loan facilities (“Facilities”) granted by DBS Bank Ltd., The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch and United Overseas Bank Limited.
Advising the JV platform on the Acquisition were Allen & Gledhill Partners Tan Boon Wah and Chua Bor Jern.
Advising the JV platform on the Facilities was Allen & Gledhill Partner Aloysius Ng.