Mirae Asset Global REITs, Securities Registration Statement Effective... December Listing Planned

[Asia Economy Reporter Minji Lee] Mirae Asset Global REIT, which holds Amazon, the world's largest e-commerce company, and FedEx logistics centers as underlying assets, is planning to go public in December.

Mirae Asset Global Investment Management announced on the 8th that the effectiveness of the securities registration statement for Mirae Asset Global Trustee Management Real Estate Investment Company (Mirae Asset Global REIT), submitted to the Financial Services Commission on the 22nd of last month, has taken effect, marking the official start of the public offering process.

Mirae Asset Global REIT is a perpetual listed REIT investing in real estate such as logistics centers, data centers, and offices located in key regions of major developed countries including the United States and Western Europe.

This REIT holds as underlying assets the Amazon Houston, FedEx Tampa, and FedEx Indianapolis logistics centers, all leased 100% on a long-term basis for over 10 years. All three underlying assets are located in logistics hubs with easy access to urban centers within 30 minutes and are adjacent to major U.S. land transportation networks, facilitating convenient movement. Therefore, tenants of each asset have a high likelihood of extending their leases after the basic lease expiration, and the conditions are very favorable for attracting other tenants. Additionally, all assets have confirmed rent increases under existing lease agreements, which is expected to enhance asset value through rent growth until the time of sale.

A high dividend yield is also a significant advantage. The expected annual dividend yield is over 6% based on a 10-year term. Since Mirae Asset Investment Management directly purchases assets after concluding sales contracts, total acquisition costs such as acquisition fees are reduced, enabling high dividends. This is also expected to greatly contribute to future REIT income growth.

The public offering price for Mirae Asset Global REIT is set at 5,000 KRW per share, with 15,020,000 shares to be offered, aiming to raise a total of 75.1 billion KRW. From the 15th to the 17th, a three-day demand forecast will be conducted targeting domestic and foreign institutional investors, followed by a three-day subscription period for general investors from the 22nd to the 24th. The listing on the KOSPI market is scheduled for early December. The lead underwriters are Mirae Asset Securities and KB Securities, with NH Investment & Securities as a co-manager.

After listing, Mirae Asset Global REIT plans to continuously incorporate high-quality new assets based on its leading global real estate investment experience and network in Korea. Currently, it is reviewing an additional pipeline worth over 1 trillion KRW, including offices and logistics facilities located in the U.S. and Europe.

Park Joon-tae, Head of the REIT Management Division at Mirae Asset Investment Management, said, “We ask for much interest and support for Mirae Asset Global REIT, launched by Mirae Asset Investment Management, a leader in real estate investment and management.” He added, “After listing, we will continue to incorporate high-quality assets in the U.S. and Europe to build an overseas real estate REIT with a market capitalization of about 1 trillion KRW within three years.”

This content was produced with the assistance of AI translation services.