Blackstone invests in major logistics center with ESR
Blackstone, a New York-based asset management firm, has teamed up with ESR to invest in a major logistics center development project in the Seoul metropolitan area, the company said Thursday. The move highlights Blackstone’s growing focus on logistics real estate as a key investment market in Korea. The firm said funds managed by Blackstone Real Estate Partners have invested in a majority…
New York-based Blackstone has partnered with ESR to invest in the development of a major logistics center in the Seoul metropolitan area, signaling the asset management firm's increasing interest in logistics real estate within South Korea. Blackstone Real Estate Partners has taken a majority stake in Sanha Logistics Park II, a prominent dry-storage logistics development located in Anseong, Gyeonggi Province, through a primary share issuance.
ESR will maintain its investment in the project and oversee its development and management through ESR Kendall Square, its local platform in Korea. The 334,000 square meter facility is currently under construction and is expected to be completed by 2028. Situated along the Gyeongbu Expressway, a crucial transportation route connecting Seoul and Busan, the logistics park is situated in a well-developed industrial and distribution area that houses operations of major Korean conglomerates.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Blackstone invests in major logistics center with ESR koreatimes.co.kr
