ESR Cayman has entered into an agreement to launch its latest logistics development platform in China (ESR China Development Platform, or ECDP), with Dutch pension fund asset manager APG Asset Management (APG) and another global institutional investor. ECDP, with an initial equity commitment of $1 billion, provides the potential investment capacity of up to $4 billion over time.
ECDP focuses on a continuation of ESR’s strategy to develop and own modern, institutional-grade logistics facilities in major logistics hubs across China with a focus on tier 1 and tier 1.5 cities.
“The acceleration of ecommerce continues to drive growth in China’s logistics market. What’s more, structural shifts in supply chain management, and consumers’ shopping habits and lifestyle changes are reshaping the market. These trends are opening new development and investment opportunities to ESR and our capital partners as the demand for advanced, large-scale and well