SEOUL: Global investment firm KKR and its affiliated South Korean asset manager, Kreate Asset Management, say they have completed the purchase of Cheongna Logistics Centre, which is South Korea’s largest single-asset logistics deal.
The companies did not disclose the financial terms of the transaction.
One person with knowledge of the matter said the deal would value the Incheon-based logistics asset at slightly more than one trillion won (US$696mil), including debt. The source could not be named as the information was confidential.
Brookfield Asset Management, which sold the logistics centre to the KKR-led consortium, did not immediately respond to a Reuters request for comment.
The 4.6 million sq ft facility, completed in 2022, is fully leased and strategically located within the Greater Seoul metropolitan area, KKR said. — Reuters
