South Korea-based Kendall Square Asset Management Inc. specializing in logistics investment has acquired a logistics center of global e-commerce giant Amazon worth 180 billion won ($155 million) in Prague, Czech Republic.

“The logistics center in Prague, which has been leased out to the global retail giant until 2030, covers northeastern Germany as well as neighboring Austria and Czech Republic,” said Kim Koo-young, chief executive of Kendall Square Asset Management in an interview with Maeil Business Newspaper.

Amazon’s Prague logistics center was built in September 2015 on a land of 244,826 square meters near the Václav Havel Airport Prague, the international airport of the capital city of Prague. Markets expect a return of about 7 percent per year from the investment.

Kendall Square Asset Management is a wholly-owned subsidiary of Kendall Square Investment Korea, a joint-venture between China’s logistics property developer ESR and global private equity fund Warburg Pincus. It has invested 27 logistics centers commanding a total land of over 2.2 million square meters in Korea, with 1.6 trillion won in assets under management.

The Asia Pacific-focused logistics real estate developer ESR has successfully raised $1.6 billion in its initial public offering late last month in Hong Kong, the second-largest debut this year in the country.

This year, Kendall Square Asset Management has bought a logistics center of Lotte Global Logistics in Osan, Gyeonggi Province, for 320 billion won and an office building in Mokdong, Seoul.

“We’re actively seeking investment opportunities for logistics buildings, office properties and data centers both at home and abroad to diversify the company’s business portfolio,” said Kim.

By Han Woo-ram and Lee Ha-yeon

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