A consortium led by IGIS Asset Management, the nation’s largest real estate asset management firm, that includes the National Pension Service, has recently signed a deal to acquire a logistics center in Yongin, Gyeonggi Province, for 410 billion won (US$364.25 million), Maeil Business News reported on May 24.
The logistics center that will start operations from next year will be leased to CJ Korea Express for 15 years. The annual return rate is expected to be 7-8 percent.
IGIS plans to pay for the deal through a 200 billion won private equity fund with funding from other investors and loans.
By Song Seung-hyun (firstname.lastname@example.org)