Media OutReach<\/a>\u00a0–\u00a023 December 2020 –\u00a0ESR Cayman Limited (“ESR” or the “Company”, together with its
\nsubsidiaries as the “Group”; SEHK Stock Code: 1821), the largest APAC focused
\nlogistics real estate platform, today announced the successful listing of ESR
\nKendall Square REIT Co., Ltd. (“ESR Kendall Square REIT”; KRX Stock Code: 365550) on the KRX KOSPI Market of the Korea Exchange, marking the first
\npublicly listed institutional quality logistics asset focused real estate
\ninvestment trust (“REIT”) in Korea. With the completion
\nof the global offering, ESR Kendall Square REIT has a portfolio with total
\nasset value of approximately US$1.3 billion and a market capitalisation of
\napproximately US$650 million. <\/p>\n\u00a0<\/p>\n
ESR Kendall Square REIT is sponsored by ESR Kendall Square, a subsidiary
\nof ESR, with prime logistics facilities in Korea as its underlying assets. The
\ninitial portfolio consists of 11 modern, institutional-grade logistics
\nfacilities mainly located in the Greater Seoul Metropolitan Area, with a total
\nGFA of 684,095 sqm. Ten of these were recently acquired, through a combination
\nof direct asset purchases and through the purchase of approximately 99% equity
\ninterest in four real estate funds that own certain of the properties, from
\nfunds managed by ESR Kendall Square. The acquisition of the 11th<\/sup>
\nproperty, the Anseong Logistics Park, is expected to be completed by June 2021.<\/p>\n\u00a0<\/p>\n
Thomas Nam, CEO of ESR Kendall Square, said, “This is a very exciting
\ntime and meaningful milestone for ESR Kendall Square. The successful listing of
\nESR Kendall Square REIT is a testament to the strong portfolios of quality assets,
\ninvestors and tenants that our team has built through the years. With the
\nrobust growth of e-commerce driven by a confluence of factors including the
\npandemic, public investors have shown a growing appetite for quality core
\nassets that can generate stable, long-term returns. Backed by our team’s
\nunrivalled capability and track record in developing and managing institutional-grade
\nproperties, we are well positioned to capitalise on the continued growth of
\ne-commerce in order to deliver solid returns and value to our investors and stakeholders.”<\/p>\n
\u00a0<\/p>\n
Leveraging its relationship with the Group, ESR Kendall Square REIT is
\nexpected to have opportunities to acquire additional properties managed by ESR Kendall
\nSquare and its affiliates. It plans to continuously increase the value of its
\ninvestments by acquiring assets in key areas, taking into account the locations,
\ntenants and expected returns.<\/p>\n
\u00a0<\/p>\n
Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, said, “We
\nare very proud of what ESR has achieved in the Korean market. As one of the
\nworld’s biggest e-commerce markets, Korea has continuously delivered ESR a strong
\nperformance and set great standards for the industry under the leadership of
\nThomas Nam and Jihun Kang. Thanks to the long-term support of our capital
\npartners and customers, as well as dedication of our team, ESR has built a
\nproven track record of robust growth across our public and private vehicles. We
\nlook forward to carrying this momentum into 2021 as we continue to strengthen
\nour market presence and leadership position in Korea and the APAC region.”<\/p>\n
\u00a0<\/p>\n
ESR has built a strong portfolio of best-in-class logistics properties
\nacross Korea, and now leads the market on multiple fronts with its exceptional
\ncapability and track record in development as well as funds and asset management.
\nIt is the leading owner of logistics stock[1]<\/sup> in the country with the largest development pipeline in the Seoul
\nMetropolitan Area. As of 30 September 2020, the total AUM and GFA of ESR’s Korea
\nbusiness had reached approximately US$7.2 billion and approximately 3.3 million
\nsqm, respectively. <\/p>\n\u00a0<\/p>\n
Citigroup Global
\nMarkets Korea Securities Limited, Morgan Stanley & Co. International Plc,
\nSeoul Branch and Korea Investment & Securities Co., Ltd. are the joint
\nglobal coordinators and underwriters. Other co-managers and underwriters taking
\npart in this global offering include NH Investment & Securities Co., Ltd.,
\nKB Securities Co., Ltd. and Samsung Securities Co., Ltd.<\/p>\n
\n
<\/p>\n
\n
\n
[1]<\/sup>By GFA from 2019
\nto 2020<\/i><\/p>\n<\/div>\n<\/div><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Korea’s first logistics REIT raised approximately US$650 million through pre-IPO investments and global offering Overwhelming response from both international and domestic investors demonstrates strong market appetite for public REITs with prime quality logistics assets and stable returns Further cements ESR Kendall Square as the dominant logistics real estate platform in Korea with over US$7.2 billion …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10507"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=10507"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/10507\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=10507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=10507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=10507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}