M&G Real Estate has expanded its APAC footprint with the acquisition of a majority stake in a prime South Korean logistics facility.
M&G has acquired a 78.5% holding in the Logisvalley Ansan asset, on behalf of M&G Asia Property Fund, for KRW512.3bn (€300m). The fund is co-investing in the facility alongside South Korea’s Private School Teacher Pension Fund and Korea Fire Officials Credit Union, which between them will hold the remaining 21.5%.
Located in Ansan’s West sub-market, within the Seoul Metropolitan Area, Logisvalley Ansan is a seven-storey facility spanning approximately 240,000sqm, close to the Korean capital and Incheon International Airport. The facility is anchored by a major Korean e-commerce company and a major lifestyle brand, providing a stable income and potential for growth, M&G said.
The manager added that South Korea’s logistics sector is undergoing a structural shift, with e-commerce growth and automation sustaining new demand. Restrictions on new developments, including on building height and length, are reinforcing the scarcity value of modern, large-format industrial assets, it added.
Daniel Cho, head of Korea, M&G Real Estate, said: “This transaction reflects our confidence in South Korea’s logistics fundamentals and represents a natural extension of our investment footprint within the Seoul Metropolitan Area. The property’s advanced building specifications and strong tenant profile underpin its resilience and ability to deliver stable, long-term returns for our investors.”
Jason Leong, fund manager, M&G Asia Property Fund, said: “Logisvalley Ansan combines scale, connectivity and tenant quality, positioning it as a core logistics hub. With supply tightening across key markets, we focus on assets that are hard to replicate and essential to tenants’ operations.”
Leong said the acquisition enhanced the scale and flexibility of the M&G Asia Property Fund, which manages around US$7bn (€6bn) in assets, including logistics investments in Australia and Japan.
He added that, beyond Korea, M&G Real Estate continues to see sustained opportunities in the logistics and industrial sectors across Asia Pacific, driven by long-term trends such as automation, urbanisation and the institutionalisation of logistics.
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