ESR lists ESR Kendall Square REIT on Korea Exchange

ESR Cayman has listed ESR Kendall Square REIT Co. on the KRX KOSPI market of the Korea Exchange, marking the first publicly listed institutional quality logistics asset–focused REIT in Korea. With the completion of the global offering, ESR Kendall Square REIT has a portfolio with total asset value of approximately $1.3 billion and a market capitalization of approximately $650 million.

ESR Kendall Square REIT is sponsored by ESR Kendall Square, a subsidiary of ESR, with prime logistics facilities in Korea as its underlying assets. The initial portfolio consists of 11 modern, institutional-grade logistics facilities mainly located in the greater Seoul metropolitan area, with a total gross floor area of 684,095 square meters (7.4 million square feet). Ten of these were recently acquired, through a combination of direct asset purchases and through the purchase of approximately 99 percent equity interest in four real estate funds that own certain of the properties, from funds ma