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ESR Kendall Square Goyang Logistics Park in Gyeonggi province
Shares began trading in Korea’s first dedicated logistics REIT on 23 December as ESR’s Korean unit finalised an initial public offering that helped the warehouse specialist and fund manager raise $650 million.
Following the Wednesday trading debut at KRW 5,000 ($4.54) each, units in ESR Kendall Square REIT, which is backed by nearly a dozen stabilised logistics facilities developed by Seoul-based ESR Kendall Square, closed the day on Monday at KRW 5,120 each have climbed 3.64 percent since the start of trading last week.
“The successful listing of ESR Kendall Square REIT is a testament to the strong portfolios of quality assets, investors and tenants that our team has built through the years,” said ESR Kendall Square chief executive Thomas Nam. “With the robust growth of e-commerce driven by a confluence of factors including the pandemic, public investors have shown a growing appetite for