Heitman Expands South Korea Portfolio With Seoul Distribution Center Acquisition

SEOUL, South Korea--(BUSINESS WIRE)--Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the acquisition of a distribution center located in Anseong, South Korea. This strategic acquisition was made in furtherance of Heitman’s global core plus focused strategy and marks the firm’s continued expansion in the South Korean market.

This investment marks an attractive re-entry point into the logistics sector in Korea, following Heitman’s prior successful exit of a portfolio of warehouses in the Yeoju submarket to a regional REIT and aligns with Heitman’s vision of strengthening the firm’s commitment to the Asia-Pacific region.

“This acquisition represents a significant milestone in Heitman’s strategy to further expand in key global real estate markets with strong fundamentals,” said Gordon Black, Senior Managing Director at Heitman and Portfolio Manager for its global core plus strategy. “The demand for well-located, efficient logistics properties continues to grow, driven by evolving consumer trends and increasing demand for modernized distribution infrastructure. We are pleased to add this property with a prime location and access to major logistics hubs to our portfolio.”

The property, situated within an hour's drive from Seoul’s Gangnam Business District (“GBD”), is located in the in the established Anseong logistics submarket, bordering Icheon, a major logistics hub in Northeast Asia.

Heitman believes the facility’s proximity to major expressways and direct access to Seoul make the location attractive to third-party logistics operators and manufacturing firms that service the greater Seoul area, as well as central and southern Korea.

ABOUT HEITMAN:

Heitman is a global real estate investment management firm with nearly $50 billion in assets under management as of June 30, 2024. Founded in 1966 and headquartered in Chicago, Heitman has 10 offices worldwide and is an active participant in the global real estate property and capital markets. Heitman makes real estate investments through private equity, debt, and publicly-traded real estate securities.