Koramco Acquires Large Logistics Center in Icheon, Solidifying No.2 Position in the Industry

Koramco Asset Management announced on March 11 that it has acquired the large logistics center 'Logispoint Hobeop' located in Icheon, Gyeonggi Province.

Koramco established 'Koramco SC Logistics Real Estate No.161-3 Investment Limited Company' and acquired this logistics center for approximately 9.3 billion won, including incidental expenses.

Aerial view of LogisPoint Hobup. Koramco Asset Management

원본보기 아이콘

This transaction marks the second logistics center investment led by the Koramco Industrial Division, and it is being evaluated as a sign that investment results are emerging quickly since the introduction of a sector-specialized organizational structure.

Logispoint Hobeop was developed by Hanyang Industrial Development, which was responsible for both project development and construction, and Mastern Investment Management acted as the asset management company (AMC). With this acquisition, Koramco has secured another high-quality logistics asset within the Deokpyeong and Seoicheon logistics cluster, a core logistics hub in the southeastern metropolitan area.

Logispoint Hobeop is a dry logistics center with a total floor area of approximately 49,600 square meters (about 15,000 pyeong), located at 483, Anpyeong-ri, Hobeop-myeon, Icheon-si, Gyeonggi Province. The structure allows for access on every floor and features a large floor plate, making it highly efficient for logistics operations. Currently, Nike and HYL, an affiliate of Hanyang Industrial Development, are leasing 100% of the total area.

Recently, after a period of increasing supply, new development in the southern metropolitan logistics market has slowed significantly, resulting in a rapid decline in future supply forecasts. In contrast, the Icheon, Yeoju, and Deokpyeong areas continue to draw concentrated logistics demand within the metropolitan area, making logistics centers with locational competitiveness increasingly scarce.

In particular, Logispoint Hobeop is evaluated as a highly competitive asset amid market volatility due to its stable leasing structure with a 0% vacancy rate.

With assets under management (AUM) of approximately 54 trillion won, Koramco has solidified its position as the second-largest domestic real estate investment management company by expanding its AUM through this logistics center acquisition.

Jangho Yoon, CEO of Koramco Asset Management, said, "By securing an asset with a stable tenant base within the Deokpyeong and Seoicheon logistics cluster at a competitive price, we have established a meaningful income base for our investors. Based on our sector-specialized organizational structure, we will actively expand commercial real estate investment opportunities and lead the real estate investment market."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.