NPS completes $368m logistics stake sale
Heitman, on behalf of National Pension Service (NPS) of South Korea, the world’s third-largest pension fund, has sold off a 50 percent stake in an Australian logistics center fund at A$560 million ($367 million), media outlets reported.
The Korea Economic Daily reported UniSuper acquired the stake.
The fund manages 20 logistics centers, including 12 assets in Sydney and eight in Melbourne, with a total floor area of 340,000 square meters (3.7 million square feet).
“Following the planned holding period, the sale of this high-quality portfolio represents a successful realized investment with significant outperformance,” said Yun Choi, managing director, private real estate equity, Asia-Pacific, at Heitman, in an article by The Asset. “We are grateful for the tr