GIC acquires two South Korean logistics complexes for $570m

Singapore’s sovereign wealth fund GIC has acquired two blocks in the Hwaseong Dongtan Logistics Complex in South Korea through a real estate fund for $570 million.

The seller was K-Eco Logis Co., a subsidiary of Halla Corp and the developer of the assets. The real estate fund is managed by ADF Asset Management Co., Ltd., an asset management company specialised in South Korea’s industrial sector.

Blocks A and B of Hwaseong Dongtan Logistics Complex are located in Gyeonggi Province, Greater Seoul Area, South Korea.