- Korea’s to start with logistics REIT elevated somewhere around US$650 million through pre-IPO investments and world wide presenting
- Overwhelming reaction from both worldwide and domestic investors demonstrates powerful market place urge for food for public REITs with primary good quality logistics property and stable returns
- Even further cements ESR Kendall Sq. as the dominant logistics genuine estate system in Korea with over US$7.2 billion of AUM
- ESR further more scales its built-in system of general public and private autos to speed up extended-phrase advancement
SEOUL/HONG KONG – Media OutReach – 23 December 2020 – ESR Cayman Constrained (“ESR” or the “Company”, jointly with its subsidiaries as the “Group” SEHK Inventory Code: 1821), the greatest APAC concentrated logistics true estate platform, now announced the thriving listing of ESR Kendall Square REIT Co., Ltd. (“ESR Kendall Sq. REIT” KRX Inventory Code: 365550) on the KRX KOSPI Market of the Korea Exchange, marking the very first publicly outlined institutional top quality logistics asset focused serious estate expense belief (“REIT”) in Korea. With the completion of the international featuring, ESR Kendall Square REIT has a portfolio with total asset benefit of close to US$1.3 billion and a market place capitalisation of roughly US$650 million.
ESR Kendall Sq. REIT is sponsored by ESR Kendall Sq., a subsidiary of ESR, with key logistics amenities in Korea as its fundamental property. The initial portfolio is composed of 11 modern day, institutional-grade logistics amenities generally located in the Higher Seoul Metropolitan Place, with a total GFA of 684,095 sqm. Ten of these have been not too long ago acquired, via a blend of direct asset buys and by the buy of approximately 99% fairness interest in four authentic estate funds that possess specific of the homes, from money managed by ESR Kendall Sq.. The acquisition of the 11th home, the Anseong Logistics Park, is envisioned to be finished by June 2021.
Thomas Nam, CEO of ESR Kendall Square, claimed, “This is a incredibly thrilling time and significant milestone for ESR Kendall Sq.. The effective listing of ESR Kendall Square REIT is a testomony to the powerful portfolios of good quality assets, traders and tenants that our crew has constructed by means of the years. With the strong progress of e-commerce driven by a confluence of factors including the pandemic, general public investors have demonstrated a expanding hunger for high quality main property that can create secure, lengthy-term returns. Backed by our team’s unrivalled functionality and keep track of document in acquiring and taking care of institutional-quality attributes, we are very well positioned to capitalise on the ongoing growth of e-commerce in buy to provide solid returns and price to our traders and stakeholders.”
Leveraging its partnership with the Group, ESR Kendall Square REIT is expected to have prospects to purchase added properties managed by ESR Kendall Square and its affiliate marketers. It ideas to repeatedly increase the price of its investments by acquiring property in vital places, using into account the spots, tenants and expected returns.
Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, mentioned, “We are really happy of what ESR has reached in the Korean industry. As just one of the world’s major e-commerce marketplaces, Korea has consistently delivered ESR a potent general performance and set terrific criteria for the field less than the leadership of Thomas Nam and Jihun Kang. Thanks to the prolonged-phrase help of our capital companions and shoppers, as effectively as commitment of our team, ESR has designed a demonstrated track history of robust development throughout our public and personal vehicles. We glimpse ahead to carrying this momentum into 2021 as we keep on to strengthen our sector existence and management situation in Korea and the APAC location.”
ESR has created a potent portfolio of finest-in-class logistics properties across Korea, and now potential customers the marketplace on several fronts with its remarkable ability and keep track of document in development as well as funds and asset management. It is the major proprietor of logistics inventory in the country with the largest development pipeline in the Seoul Metropolitan Location. As of 30 September 2020, the complete AUM and GFA of ESR’s Korea company experienced attained approximately US$7.2 billion and somewhere around 3.3 million sqm, respectively.
Citigroup World-wide Markets Korea Securities Limited, Morgan Stanley & Co. Intercontinental Plc, Seoul Department and Korea Investment & Securities Co., Ltd. are the joint global coordinators and underwriters. Other co-managers and underwriters using aspect in this global supplying contain NH Investment decision & Securities Co., Ltd., KB Securities Co., Ltd. and Samsung Securities Co., Ltd.
By GFA from 2019 to 2020