CapitaLand Investment’s flagship core-plus private fund buys logistics property in South Korea for $82m

CapitaLand Investment Limited’s (CLI) flagship regional core-plus fund, CapitaLand Open End Real Estate Fund (COREF), has acquired a newly completed, class A logistics property in South Korea for S$112 million ($82.5 million).

The acquisition will bring COREF’s funds under management (FUM) to more than S$1 billion (tk billion).  The high specifications logistics property, Anseong Seongeun Logistics Centre, comprises two four-story buildings with basement floors totaling 60,407 square meters (tk square feet)of net leasable area.

The property is strategically located in the north-western region of Anseong, an emerging logistics hub in the Gyeonggi province.  It is well served by primary expressways providing easy access to Seoul and key population centers across Greater Seoul.  Its proximity to a new expressway, which is expected to be completed in 2024, will further boost the property’s accessibility.

“We expect logistics supply to moderate significant