Media OutReach<\/a>\u00a0–\u00a06 July 2021\u00a0– ESR Cayman Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), the largest APAC focused logistics
\nreal estate platform, announced a JPY75
\nbillion (circa US$675 million) expansion of ESR Japan Logistics Fund III (“RJLF3”),
\na development joint venture established with Dutch pension fund APG (“APG”) and
\na global institutional investor. The new capital has effectively doubled the size of RJLF3 to
\nJPY150 billion (circa US$1.35 billion) in total capital commitment, bringing
\nthe total investment capacity to as much as JPY470 billion (circa US$4.2 billion)
\nover time.<\/p>\n
\n
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RJLF3
\nwas established in 2019 with an initial capital commitment of JPY75 billion to
\nfocus on the development of large-scale, state-of-the-art logistics facilities
\nin the major metropolitan areas of Japan. Since its inception, JPY65 billion
\nhas been committed into five projects, namely ESR
\nHigashi Ogishima A Distribution Centre (Tokyo), ESR Sachiura Distribution
\nCentre (Tokyo), ESR Ukishima Distribution Centre (Tokyo), ESR Aisai
\nDistribution Centre (Nagoya), and ESR Fukuoka Asakura Distribution Centre
\n(Fukuoka), with a total GFA of approximately 870,000 sqm. <\/p>\n
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Jeffrey Shen and Stuart Gibson,
\nCo-founders and Co-CEOs of ESR, said: “Institutional investment in Japan and APAC’s
\nlogistics sector has been very strong, as e-commerce acceleration and
\nstructural shifts in supply chain management continue to fuel demand for well-located,
\nlarge-scale modern logistics properties. Against this backdrop, we
\nare delighted to have created yet another successful vehicle with our
\nlongstanding capital partners and extend our record of delivering consistently solid
\nperformances across our APAC portfolio.”<\/p>\n
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“Developing logistics assets in Asia
\nPacific and particularly in the major economies continues to offer risk
\nadjusted returns that are attractive to long term investors such as APG. Our
\npartnership with ESR extends across many jurisdictions and we are delighted
\nwe’ve been able to extend our strategy in the prime locations of Japan,”
\ncommented Graeme Torre, Head of Real Estate for APG Asset Management Asia.<\/p>\n
\n
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“The supply of
\nmodern institutional quality logistics assets in Japan remains low, while Japanese
\nhousehold online shopping usage grew 19% in 2020 and is up 11% year to date.
\nThis imbalance is common across the APAC region which is why we are seeing
\nincreasing capital targeting the sector in APAC. The upsize of RJLF3 reflects
\nthe collective confidence of our institutional investment partners in ESR’s
\nability to continue capitalise on this robust secular opportunity,” said Josh
\nDaitch, ESR Group Head of Fund Management & Capital. “We will continue to build
\non our capital management and development strengths to identify quality
\nopportunities for institutional investors who believe in modern logistics across our geographies in the APAC market.”<\/p>\n
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\u00a0<\/p>\n
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In Japan, ESR manages US$7.9
\nbillion of best-in-class logistics facilities in strategic locations across major
\nmetropolitan areas in the country. The Group also owns the largest development
\npipeline in Greater Tokyo and Greater Osaka. <\/p>\n
#ESR<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"New capital will fund ESR\u2019s robust development pipeline TOKYO\/SINGAPORE\/HONG
KONG\u00a0–\u00a0Media OutReach\u00a0–\u00a06 July 2021\u00a0– ESR Cayman Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), the largest APAC focused logistics
real estate platform, announced a JPY75
billion (circa US$675 million) expansion of ESR Japan Logistics Fund III (“RJLF3”),
a …<\/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\/16086"}],"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=16086"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/16086\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=16086"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=16086"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=16086"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}