Warburg Pincus and Eastgate Group Joint Venture Completes Shinagawa Seaside Acquisition

Warburg Pincus and Eastgate Group have announced the acquisition of the Shinagawa Seaside West Tower by their joint venture, marking the third transaction under their collaboration formed in 2023. This joint venture, initiated to address the significant undersupply of life sciences and R&D real estate in Japan, now manages over 1 million square feet of gross floor area and boasts over $300 million in assets under management. The acquisition includes high-quality assets in Tokyo and Yokohama, strategically located to cater to life sciences, hi-tech, and manufacturing industries. The Shinagawa Seaside West Tower provides over 410,000 square feet of state-of-the-art R&D space capable of supporting both dry and wet labs. Warburg Pincus and Eastgate Group emphasize the growing demand in Japan for specialized real estate in the life sciences sector, driven by trends like the aging population and healthcare market growth. Their combined experience and resources position them to capitalize on this significant opportunity, providing long-term value for tenants and investors alike.