March 4, 2024

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Business is my step

ARKO Announces Participation in the 2021 ICR Conference

3 min read
  • Korea’s initially logistics REIT lifted close to US$650 million as a result of pre-IPO investments and international supplying
  • Overwhelming response from both of those intercontinental and domestic investors demonstrates solid market hunger for general public REITs with key high quality logistics belongings and steady returns
  • Even further cements ESR Kendall Square as the dominant logistics real estate platform in Korea with above US$7.2 billion of AUM
  • ESR further scales its built-in system of community and private motor vehicles to speed up long-phrase progress

SEOUL/HONG KONG – Media OutReach – 23 December 2020 – ESR Cayman Confined (“ESR” or the “Company”, alongside one another with its subsidiaries as the “Group” SEHK Stock Code: 1821), the biggest APAC focused logistics authentic estate platform, today declared the successful listing of ESR Kendall Sq. REIT Co., Ltd. (“ESR Kendall Square REIT” KRX Inventory Code: 365550) on the KRX KOSPI Sector of the Korea Trade, marking the initially publicly detailed institutional good quality logistics asset targeted authentic estate expenditure have confidence in (“REIT”) in Korea. With the completion of the global supplying, ESR Kendall Sq. REIT has a portfolio with total asset value of approximately US$1.3 billion and a market place capitalisation of around US$650 million.

 

ESR Kendall Sq. REIT is sponsored by ESR Kendall Sq., a subsidiary of ESR, with primary logistics amenities in Korea as its underlying assets. The initial portfolio is composed of 11 modern, institutional-quality logistics amenities mainly located in the Greater Seoul Metropolitan Space, with a whole GFA of 684,095 sqm. 10 of these were being recently obtained, as a result of a blend of immediate asset buys and via the acquire of around 99% equity curiosity in 4 authentic estate resources that personal certain of the houses, from money managed by ESR Kendall Sq.. The acquisition of the 11th home, the Anseong Logistics Park, is anticipated to be accomplished by June 2021.

 

Thomas Nam, CEO of ESR Kendall Sq., stated, “This is a pretty remarkable time and meaningful milestone for ESR Kendall Square. The productive listing of ESR Kendall Sq. REIT is a testament to the potent portfolios of high-quality property, buyers and tenants that our team has constructed via the many years. With the robust growth of e-commerce pushed by a confluence of elements such as the pandemic, general public traders have proven a developing appetite for high-quality core belongings that can generate stable, very long-phrase returns. Backed by our team’s unrivalled capacity and keep track of record in developing and managing institutional-quality qualities, we are properly positioned to capitalise on the ongoing development of e-commerce in get to deliver sound returns and worth to our investors and stakeholders.”

 

Leveraging its partnership with the Team, ESR Kendall Square REIT is envisioned to have alternatives to receive extra qualities managed by ESR Kendall Square and its affiliate marketers. It strategies to continually raise the worth of its investments by buying belongings in vital parts, having into account the areas, tenants and envisioned returns.

 

Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, reported, “We are quite proud of what ESR has reached in the Korean marketplace. As 1 of the world’s most significant e-commerce markets, Korea has repeatedly delivered ESR a solid general performance and established good standards for the sector under the leadership of Thomas Nam and Jihun Kang. Thanks to the lengthy-time period guidance of our capital partners and buyers, as effectively as determination of our crew, ESR has developed a tested track history of sturdy progress throughout our community and private autos. We glance forward to carrying this momentum into 2021 as we proceed to reinforce our market presence and management placement in Korea and the APAC area.”

 

ESR has built a potent portfolio of best-in-course logistics properties across Korea, and now qualified prospects the market place on numerous fronts with its excellent functionality and keep track of history in advancement as very well as cash and asset management. It is the foremost operator of logistics inventory[1] in the place with the major advancement pipeline in the Seoul Metropolitan Area. As of 30 September 2020, the whole AUM and GFA of ESR’s Korea company experienced attained close to US$7.2 billion and approximately 3.3 million sqm, respectively.

 

Citigroup World Markets Korea Securities Limited, Morgan Stanley & Co. Intercontinental Plc, Seoul Branch and Korea Investment & Securities Co., Ltd. are the joint global coordinators and underwriters. Other co-supervisors and underwriters taking part in this world providing contain NH Investment & Securities Co., Ltd., KB Securities Co., Ltd. and Samsung Securities Co., Ltd.



[1]By GFA from 2019 to 2020

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