Union Investment’s acquisition of West Anseong Logistics Center marks its entry into the logistics real estate market in the Asia Pacific region. The acquisition is being made on behalf of open-ended real estate fund Unilmmo: Global. The vendor is KB Asset Management, the asset management arm of the KB Financial Group, Korea’s largest financial group.
Constructed in 2017, the West Anseong Logistics Center is a Grade A dry storage facility with four upper storeys, two basement levels and 184 parking spaces. It offers a total Gross Floor Area of about 55,400 sqm and is fully let to a domestic Korean logistics company Chun-Ahn Logistics Co., Ltd.
Source : Union Investment