ESR Group Limited has established South Korea’s first perpetual, open-ended core logistics fund. The newly-formed core fund portfolio includes seven trophy assets developed and managed by ESRKS.
Strategically located in the Greater Seoul and Greater Busan areas, the initial seven assets, with a total gross floor area of 1 million square meters (10.7 million square feet), have an average occupancy of more than 99 percent. Built within the last three-and-a-half years on average, these assets are state-of-the-art, class-A logistics warehouses that come with modern ESG features including rooftop solar-power systems and EV-charging stations for forklifts to enable tenants to enhance operational efficiency. The tenant base of the core fund portfolio primarily comprises major ecommerce and global third-party logistics (3PL) companies.
As an open-ended vehicle, the newly formed core fund will have the opportunity to acquire high-quality, income-producing stabilized asset
