This article was published on July 31, 2025, at 5:01 p.m. on the ChosunBiz MoneyMove site.
Domestic alternative investment firm Pacific Asset Management will acquire a logistics center from ESR Kendall Square REIT, which specializes in logistics centers. This logistics center is an asset fully leased by Fila Korea.
On the 1st, according to the investment banking (IB) industry, Pacific Asset Management is pursuing the acquisition of the Icheon 4 logistics center owned by ESR Kendall Square REIT. Both sides confirmed that they agreed on a specific amount of approximately 50.8 billion won. The structure involves Pacific Asset Management's real estate fund, Pacific No. 91, acquiring all revenue securities of the Kendall Square No. 7 fund, which owns the Icheon 4 logistics center.
The Icheon 4 logistics center is an asset that ESR Kendall Square REIT incorporated through its real estate fund (REF). ESR Kendall Square REIT holds 99.28% of the equity of Kendall Square No. 7. According to the report at the end of this year's first half (February 28), the investment amount in revenue securities is 41.1 billion won.
The Icheon 4 logistics center is a modern standard-temperature logistics center that was completed near Deokpyeong-ro in Hobuk-myeon, Icheon City, Gyeonggi Province, in 2018. It is located in the suburban eastern region, a core area of the logistics market. It is described as an asset with excellent transport accessibility to the metropolitan area and major logistics zones, adjacent to the Yeongdong Expressway, Jungbu Expressway, and Deokpyeong IC. It has a total floor area of 49,616 square meters (15,001 pyeong) and consists of three above-ground levels.
The main tenant of the logistics center is Fila Korea. Fila Korea entered into a long-term contract to use the Icheon 4 logistics center from 2023 to August 2028. Initially, some areas were used by Coupang, GS Retail, and CJ Logistics, but Fila Korea decided to use the entire floor of the logistics center, maintaining a 100% leasing rate.
Industry insiders evaluate that the asset, with excellent long-term tenants, can secure stable cash flow. ESR Kendall Square REIT received approximately 2.1 billion won in dividends from the No. 7 fund in the first half. With domestic logistics center supply continuing to decline since last year, an increase in rental prices and asset value is expected.
An industry official noted, 'This place is used as a logistics hub by major e-commerce companies and 3PL corporations.' He added that it is located in a core area of the logistics market and is classified as a prime asset capable of generating stable dividend income through long-term lease contracts.