ESR acquires three prime logistics properties in East China

ESR Cayman has acquired a 100 percent stake in three prime properties in East China’s Jiangsu province. A sales price was not disclosed.

The addition of these strategically located assets will further enhance ESR’s position in catering to the robust market demand for high-quality logistics facilities.

The three assets are strategically located in prominent hubs of the country’s last-mile logistics networks.

Developed on a land parcel of over 280,000 square meters (3 million square feet), the first property is a fully-leased, stabilized asset with a gross floor area (GFA) of more than 160,000 square meters (1.72 million square feet). The second property is being developed on a land parcel of over 60,000 square meters (646,000 square feet) with a GFA of more than 35,000 square meters (377,000 square feet). It is a construction-in-progress asset and has been fully pre-leased. ESR intends to redevelop the third property, which occupies