- Korea’s first logistics REIT raised approximately US$650 million by means of pre-IPO investments and world wide giving
- Frustrating reaction from each intercontinental and domestic investors demonstrates strong sector urge for food for general public REITs with prime quality logistics property and secure returns
- Further more cements ESR Kendall Sq. as the dominant logistics authentic estate platform in Korea with around US$7.2 billion of AUM
- ESR even further scales its built-in platform of general public and personal vehicles to accelerate prolonged-time period advancement
SEOUL/HONG KONG – Media OutReach – 23 December 2020 – ESR Cayman Restricted (“ESR” or the “Company”, collectively with its subsidiaries as the “Group” SEHK Inventory Code: 1821), the most significant APAC concentrated logistics genuine estate platform, these days introduced the profitable listing of ESR Kendall Square REIT Co., Ltd. (“ESR Kendall Square REIT” KRX Stock Code: 365550) on the KRX KOSPI Marketplace of the Korea Exchange, marking the initially publicly outlined institutional quality logistics asset centered genuine estate investment decision have confidence in (“REIT”) in Korea. With the completion of the world wide giving, ESR Kendall Sq. REIT has a portfolio with complete asset benefit of about US$1.3 billion and a marketplace capitalisation of about US$650 million.
ESR Kendall Square REIT is sponsored by ESR Kendall Square, a subsidiary of ESR, with key logistics amenities in Korea as its underlying assets. The initial portfolio is composed of 11 modern-day, institutional-grade logistics services predominantly found in the Increased Seoul Metropolitan Spot, with a complete GFA of 684,095 sqm. Ten of these ended up lately acquired, by way of a blend of immediate asset purchases and by means of the purchase of close to 99% equity fascination in 4 authentic estate funds that have specified of the homes, from funds managed by ESR Kendall Square. The acquisition of the 11th assets, the Anseong Logistics Park, is envisioned to be finished by June 2021.
Thomas Nam, CEO of ESR Kendall Square, explained, “This is a really remarkable time and meaningful milestone for ESR Kendall Sq.. The prosperous listing of ESR Kendall Sq. REIT is a testament to the sturdy portfolios of quality property, investors and tenants that our crew has constructed through the several years. With the strong expansion of e-commerce driven by a confluence of factors including the pandemic, community investors have shown a increasing hunger for quality core assets that can generate stable, extensive-term returns. Backed by our team’s unrivalled ability and observe report in creating and managing institutional-grade houses, we are nicely positioned to capitalise on the ongoing growth of e-commerce in purchase to provide reliable returns and price to our buyers and stakeholders.”
Leveraging its marriage with the Team, ESR Kendall Square REIT is envisioned to have opportunities to purchase further qualities managed by ESR Kendall Square and its affiliates. It options to consistently boost the worth of its investments by buying property in vital locations, having into account the spots, tenants and anticipated returns.
Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, claimed, “We are incredibly proud of what ESR has realized in the Korean marketplace. As just one of the world’s biggest e-commerce markets, Korea has repeatedly shipped ESR a powerful effectiveness and established great expectations for the market below the management of Thomas Nam and Jihun Kang. Thanks to the lengthy-expression aid of our funds associates and prospects, as effectively as perseverance of our staff, ESR has constructed a demonstrated track history of strong growth throughout our community and private autos. We appear forward to carrying this momentum into 2021 as we proceed to reinforce our market place existence and leadership position in Korea and the APAC location.”
ESR has developed a powerful portfolio of best-in-course logistics houses throughout Korea, and now potential customers the market on various fronts with its outstanding capability and monitor record in enhancement as properly as resources and asset management. It is the top owner of logistics stock in the place with the greatest improvement pipeline in the Seoul Metropolitan Space. As of 30 September 2020, the full AUM and GFA of ESR’s Korea enterprise had reached approximately US$7.2 billion and somewhere around 3.3 million sqm, respectively.
Citigroup World-wide Markets Korea Securities Confined, Morgan Stanley & Co. Worldwide Plc, Seoul Branch and Korea Expense & Securities Co., Ltd. are the joint global coordinators and underwriters. Other co-supervisors and underwriters getting element in this world-wide presenting include things like NH Financial investment & Securities Co., Ltd., KB Securities Co., Ltd. and Samsung Securities Co., Ltd.
By GFA from 2019 to 2020