SINGAPORE, Aug 27 (Reuters) - Warburg Pincus and

Australian real estate group Lendlease ( LLESF ) said on Tuesday

their joint venture has acquired property assets in Singapore

for S$1.6 billion ($1.2 billion).

The portfolio is comprised of business parks and specialist

facilities that count blue chip companies in the life sciences

sector as tenants and is one of the largest deals involving a

private portfolio of industrial assets in the city-state, the

statement said.

The statement said the assets were bought from entities

"associated with" Blackstone and Lim Chap Huat, executive

chairman of Soilbuild Group but did not provide further

explanation.

The U.S.-based global investment firm and Lendlease ( LLESF ) launched

their joint venture platform at the end of July to focus on life

sciences and R&D real estate in the Asia Pacific region.

($1 = 1.3036 Singapore dollars)