M&G Real Estate has expanded its APAC footprint with the acquisition of a majority stake in a prime South Korean logistics facility.
M&G has acquired a 78.5% holding in the Logisvalley Ansan asset, on behalf of M&G Asia Property Fund, for KRW512.3bn (鈧�300m). The fund is co-investing in the facility alongside South Korea鈥檚 Private School Teacher Pension Fund and Korea Fire Officials Credit Union, which between them will hold the remaining 21.5%.
Located in Ansan鈥檚 West sub-market, within the Seoul Metropolitan Area, Logisvalley Ansan is a seven-storey facility spanning approximately 240,000sqm, close to the Korean capital and Incheon International Airport. The facility is anchored by a major Korean e-commerce company and a major lifestyle brand, providing a stable income and potential for growth, M&G said.
The manager added that South Korea鈥檚 logistics sector is undergoing a structural shift, with e-commerce growth and automation sustaining new demand. Restrictions on new developments, including on building height and length, are reinforcing the scarcity value of modern, large-format industrial assets, it added.
Daniel Cho, head of Korea, M&G Real Estate, said: 鈥淭his transaction reflects our confidence in South Korea鈥檚 logistics fundamentals and represents a natural extension of our investment footprint within the Seoul Metropolitan Area. The property鈥檚 advanced building specifications and strong tenant profile underpin its resilience and ability to deliver stable, long-term returns for our investors.鈥�
Jason Leong, fund manager, M&G Asia Property Fund, said: 鈥淟ogisvalley Ansan combines scale, connectivity and tenant quality, positioning it as a core logistics hub. With supply tightening across key markets, we focus on assets that are hard to replicate and essential to tenants鈥� operations.鈥�
Leong said the acquisition enhanced the scale and flexibility of the M&G Asia Property Fund, which manages around US$7bn (鈧�6bn) in assets, including logistics investments in Australia and Japan.
He added that, beyond Korea, M&G Real Estate continues to see sustained opportunities in the logistics and industrial sectors across Asia Pacific, driven by long-term trends such as automation, urbanisation and the institutionalisation of logistics.
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