KBRA Assigns Preliminary Scores to GS Mortgage loan Securities Company Have faith in 2020-TWN3

• Korea’s initially logistics REIT raised somewhere around US$650 million by way of pre-IPO investments and global featuring
• Mind-boggling reaction from equally worldwide and domestic traders demonstrates solid sector urge for food for public REITs with prime high quality logistics property and steady returns
• More cements ESR Kendall Sq. as the dominant logistics real estate platform in Korea with over US$7.2 billion of AUM
• ESR additional scales its built-in system of public and non-public cars to speed up very long-expression advancement

SEOUL/HONG KONG – Media OutReach – 23 December 2020 – ESR Cayman Limited (“ESR” or the “Company”, collectively with its subsidiaries as the “Group” SEHK Inventory Code: 1821), the premier APAC targeted logistics true estate platform, these days introduced the thriving listing of ESR Kendall Sq. REIT Co., Ltd. (“ESR Kendall Sq. REIT” KRX Inventory Code: 365550) on the KRX KOSPI Marketplace of the Korea Trade, marking the to start with publicly listed institutional high-quality logistics asset targeted true estate financial commitment have confidence in (“REIT”) in Korea. With the completion of the world wide providing, ESR Kendall Sq. REIT has a portfolio with whole asset benefit of somewhere around US$1.3 billion and a market capitalisation of approximately US$650 million.

ESR Kendall Sq. REIT is sponsored by ESR Kendall Sq., a subsidiary of ESR, with key logistics facilities in Korea as its underlying belongings. The preliminary portfolio consists of 11 modern, institutional-quality logistics services mainly situated in the Better Seoul Metropolitan Space, with a overall GFA of 684,095 sqm. Ten of these ended up just lately obtained, as a result of a mix of direct asset purchases and via the purchase of roughly 99% equity fascination in four authentic estate funds that individual sure of the qualities, from cash managed by ESR Kendall Square. The acquisition of the 11^th assets, the Anseong Logistics Park, is expected to be accomplished by June 2021.

Thomas Nam, CEO of ESR Kendall Square, said, “This is a very exciting time and significant milestone for ESR Kendall Square. The successful listing of ESR Kendall Square REIT is a testament to the powerful portfolios of high-quality assets, buyers and tenants that our staff has constructed by way of the a long time. With the sturdy advancement of e-commerce pushed by a confluence of factors together with the pandemic, community traders have shown a expanding appetite for excellent main belongings that can deliver stable, extended-expression returns. Backed by our team’s unrivalled capacity and observe history in building and running institutional-quality houses, we are effectively positioned to capitalise on the continued advancement of e-commerce in buy to produce good returns and price to our buyers and stakeholders.”

Leveraging its connection with the Group, ESR Kendall Sq. REIT is envisioned to have alternatives to receive additional attributes managed by ESR Kendall Sq. and its affiliates. It strategies to continually increase the value of its investments by buying belongings in important areas, using into account the locations, tenants and predicted returns.

Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, mentioned, “We are extremely proud of what ESR has attained in the Korean industry. As a person of the world’s most important e-commerce marketplaces, Korea has constantly sent ESR a sturdy efficiency and established good benchmarks for the sector underneath the leadership of Thomas Nam and Jihun Kang. Thanks to the long-time period support of our money partners and prospects, as nicely as dedication of our workforce, ESR has built a demonstrated track record of robust development throughout our public and private vehicles. We appear ahead to carrying this momentum into 2021 as we go on to fortify our current market existence and management situation in Korea and the APAC area.”

ESR has created a solid portfolio of most effective-in-course logistics attributes across Korea, and now prospects the industry on many fronts with its exceptional ability and observe record in enhancement as nicely as resources and asset management. It is the primary proprietor of logistics stock^[1] in the country with the greatest enhancement pipeline in the Seoul Metropolitan Space. As of 30 September 2020, the whole AUM and GFA of ESR’s Korea business enterprise experienced arrived at about US$7.2 billion and roughly 3.3 million sqm, respectively.

Citigroup World Marketplaces Korea Securities Constrained, Morgan Stanley & Co. Global Plc, Seoul Department and Korea Investment & Securities Co., Ltd. are the joint international coordinators and underwriters. Other co-administrators and underwriters getting component in this international providing include things like NH Expenditure & Securities Co., Ltd., KB Securities Co., Ltd. and Samsung Securities Co., Ltd.