M&G Real Estate has purchased a modern logistics center near Seoul for 155.5 billion won ($131 million).
The four-story, 100,000-square-meter (1.1 million-square-foot) Yongin Baegam Logistics Centre is located in an established logistics cluster south of the capital city and near major highways.
The acquisition was made through M&G’s core asset property strategy, M&G Asia Property Fund, and marks the second logistics facility for the fund in Korea, following its acquisition of Homeplus Hub Logistics Centre in 2017.
“We are positive about the fundamentals in Asia Pacific’s logistics sector, particularly in Korea, where supply is limited and demand is strong. The relentless demand for faster delivery will push third-party logistics companies to larger, more centralized distribution centers near key transport hubs and highway interchanges, such as ours,” said Richard van den Berg, manager of M&G Asia Property Fund. “Location will remain a
