[THE INVESTOR] Deutsche Bank’s asset management arm, which was rebranded as DWS a few months ago, said on April 18 that it has acquired Logiport Icheon for 61.2 billion won (US$57.47 million) in an off-market transaction with Lasalle Investment Management.
“Boosted by growth of the local e-commerce industry, active leasing market and its accessible location, Logiport Icheon is an attractive addition to our fund,” said Christopher Kimm, managing director and head of real estate for Korea. “DWS has acquired three logistic facilities here. We will keep looking out for great investment opportunities like Logiport Icheon.”
The logistic warehouse located in Icheon, south of Seoul, is a 45,000 square meter, four-story property built by Chicago-based Lasalle last year.
Its tenants include Mercedes-Benz, Li & Fung, Hong Kong-based apparel supplier of brands like Nike and Converse, and two other local third-party logistics firms.
DWS has been actively expanding in the local logistics market. Last year, it acquired DPL Anpyungri Logistics warehouse -- with tenants including Samsung Electronics and Samsung SDS -- for 78.6 billion won, and MG Logistics Center for 83 billion won.
By Ahn Sung-mi (firstname.lastname@example.org)