South Korea’s leading asset management firm Mirae Asset Global Investments Co. is packaging a 1 trillion won ($898.47 million) worth blind-pool fund focused to invest in logistics centers in the United States.
According to industry banking sources on Tuesday, Mirae Asset Global Investments has pooled in domestic institutions to ‘Mirae Asset Maps Global Ⅱ,’ a blind real estate investment trust to invest in logistics centers located in eastern and western U.S.
Family units under Mirae Asset will expedite 500 billion won worth and the rest will be pooled from pension funds and big institutions.
The asset manager has already acquired logistics centers in major U.S. cities including Boston, Washington D.C., and San Francisco, which cover a total leasing area of 112,000 square meters (1,205,557 square feet) and are valued at combined 500 to 600 billion won. The facilities have been leased to companies including Amazon, Fedex, Watson and Foot Locker for a period of 10 to 20 years.
The company is planning to make investments in five additional locations to add 2.5 to 3 trillion won worth U.S. logistics centers to its portfolio.
By Kang Doo-soon, Jin Young-tae and Lee Soo-min
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