CLI’s flagship regional fund acquires newly-completed Grade A logistics property in South Korea for $112 mil

The real estate, Anseong Seoungeun Logistics Centre, consists of 2 four-storey structures with basement levels. The real estate has an overall of 60,407 sqm of net leasable location.

Since its kickoff in September 2021, COREF has purchased properties in Australia, Japan and Singapore.

“Asia Pacific continues to gain from rapid urbanisation as well as strong business growth. Since the release of COREF, we have constructed a varied profile of 11 high quality assets across four countries in Asia Pacific that give clients eye-catching risk-adjusted profits. We will continue to take advantage of our nation companies’ on-the-ground competence to expand our reserved funds,” Treacy proceeds.

CapitaLand Open End Real Estate Fund (COREF), the front runner regional core-plus fund of CapitaLand Investment (CLI) 9CI -0.93%, has recently acquired a recently finished, Grade A logistics real estate in South Korea for $112 million.

North Gaia floor plan

” This investment enhances COREF’s existing profile of 10 office and multifamily assets throughout Japan, Singapore including Australia and expands the portfolio to the resistant South Korean logistics sector,” adds Simon Treacy, chief executive officer of nonpublic equity realty at CLI. “Interest for quality logistics facilities in the nation is durable and increasing continuously on the rear of accelerating e-commerce buildup that has actually resulted in the nation having one of the highest possible ecommerce infiltration prices globally. The deal likewise coordinates with COREF’s vital investment themes, like capitalising on emerging submarkets in the fund’s target created nations and the expanding prominence of e-commerce.”

” Take advantage of our group’s special offer sourcing along with implementation capabilities plus substantial 20-year performance history, we obtained this premium property at a desirable price via an off-market exercise,” says Matthew Sohn, head of Korea for CLI. “We assume logistics supply to moderate substantially in the midterm offered rising construction prices, project funding demands and tighter property development limitations. We see potential in this property as it has a top location in the north-western area of Anseong, an up-and-coming submarket that has lured significant logistics firms to set up base and also several global investment firms to buy into in logistics properties.”

The acquisition will certainly take COREF’s funds under management (FUM) to more than $1 billion.

It is located in the north western area of Anseong, an emerging logistics centre in the Gyeonggi state. The location is claimed as being well-served by main expressways providing quick and easy accessibility to Seoul and even Greater Seoul. A brand-new expressway, that is anticipated to be completed by 2024, will add greater access to the property.

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