Lendlease Group has entered into a 50-50 joint venture with Warburg Pincus to establish a new life sciences real estate platform in the Asia Pacific region.
The deal, valued at $95.81 million, will see Lendlease transferring its life sciences construction and development capabilities in Asia to the joint venture, with the expectation of $44 million in net cash proceeds. This move aligns with Lendlease’s simplification strategy and is set to bolster its focus on the life sciences sector, providing new investment opportunities.
The new real estate platform complements Lendlease’s existing Investments platform in Asia, including both private funds and the listed Lendlease Global Commercial REIT.
