The Canada Pension Plan Investment Board (CPPIB) has emerged as the top shareholder in South Korea’s only listed logistics REIT, reported The Korea Economic Daily.
ESR Kendall Square REIT is backed by 11 logistics facilities in Gyeonggi Province surrounding the capital city of Seoul.
CPPIB’s stake in the Korean REIT was worth 180.4 billion won ($166 million) as of the end of 2020.
