Transactions - AUGUST 12, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

M&G makes first retail acquisition in South Korea

by Andrea Waitrovich

M&G Real Estate has acquired three retail assets in South Korea for $230 million. The acquisition was made on behalf of its core Asia real estate strategy, managed by Singapore-based Erle Spratt.

M&G Real Estate has acquired two hypermarkets: the first in Daejeon, South Korea’s fifth-largest city; the second in Jeju, the capital of the Jeju province and the nation’s premier tourist destination. The third asset is an outlet mall in Incheon City, the country’s third-largest city after Seoul and Busan. All three assets are highly sought-after retail outlets in prime locations and are leased to South Korea’s largest retailer, Lotte Shopping.

The acquisition follows M&G’s €175 million ($194.46 million) acquisition in Madrid, its first deal in Spain. The investment was made on behalf of the global real estate fund m

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy