KKR's Landmark Acquisition: South Korea's Largest Logistics Deal Unveiled

KKR and Kreate Asset Management announced the acquisition of Cheongna Logistics Center in South Korea, marking the largest single-asset logistics deal in the country. The Incheon-based facility, valued at slightly over 1 trillion won, was sold by Brookfield Asset Management. The center spans 4.6 million square feet and is fully leased.

KKR and Kreate Asset Management have successfully acquired South Korea's largest single-asset logistics property, the Cheongna Logistics Center, in a historic deal completed recently. While the financial specifics remain undisclosed, the asset is reportedly valued at over 1 trillion won, approximately $696 million.

The expansive 4.6-million-square-foot facility, strategically positioned within the Greater Seoul metropolitan area, has been fully leased since its completion in 2022. KKR, along with Kreate, orchestrated the purchase, with Kreate assuming management and operational responsibilities.

This acquisition underscores the significant assets and strategic positioning embraced by KKR as it continues to expand its influence in the rapidly developing South Korean logistics market.