KKR's Landmark Acquisition in South Korea: Cheongna Logistics Center

Global investment firm KKR, alongside its Korean partner Kreate Asset Management, has acquired South Korea's Cheongna Logistics Center in the nation's largest single-asset logistics deal. The transaction signifies KKR's expanding presence in the Asian logistics market, although the financial details remain undisclosed.

Global investment firm KKR and its Korean affiliate, Kreate Asset Management, have completed the acquisition of Cheongna Logistics Center, marking South Korea's largest single-asset logistics transaction.

According to a source familiar with the matter, the Incheon-based logistics asset is valued at slightly over 1 trillion won ($696 million), although the transaction details are confidential. Brookfield Asset Management, the seller, has not commented on the transaction.

KKR highlighted that the 4.6-million-square-foot facility, completed in 2022, is now fully leased and strategically positioned within the Greater Seoul metropolitan area. This acquisition bolsters KKR's footprint in South Korea, complementing their previous logistics investments in the country and across Asia.

(With inputs from agencies.)