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Announced

Warburg Pincus-backed Weave Co-Living and 32RE set up a $500m joint venture in Singapore.

Financials

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Transaction Value£287m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Completed

Singapore

Real Estate Services

real estate developer

real estate sector

Majority

Joint Venture

Private

commercial real estate

Private Equity

Friendly

Acquisition

Single Bidder

Synopsis

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Private equity firm Warburg Pincus-backed Weave Co-Living, a co-living rental accommodation provider and 32RE, a property investment manager, agreed to set up a $500m joint venture in Singapore. “We are delighted to partner with Weave, Asia’s leading lifestyle-focused rental accommodation provider, in their first foray outside Hong Kong. Together, we look forward to building a 600-unit, Weave-branded and operated portfolio of properties in Singapore’s main social and commercial hubs,” Jeremy Choy, 32RE Co-Founder and CEO.

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