M&G Real Estate, a part of M&G Investments’ private markets business, has acquired Logisvalley Ansan, a prime seven-storey logistics facility in the Seoul Metropolitan Area, for KRW512.3 billion ($455 million).
The seller is a fund managed by CBRE Global Investors, which had acquired the asset in May 2019 from South Korean developer Sunkyung E&C, understands The Edge Singapore.
Located in Ansan’s West sub-market within the Seoul Metropolitan Area, Logisvalley Ansan is a large-scale facility spanning approximately 240,000 sqm with strong connectivity to major infrastructure for last-mile and regional distribution, says M&G Real Estate in a Jan 5 announcement.
Completed in 2019 and designed for automation-intensive operations, the facility is anchored by South Korean e-commerce giant Coupang and LF, a lifestyle retail brand.
Designed for operational efficiency, it features large, flexible floor plates of around 21,000 sqm with a wide 276m frontage and an 11m-by-11m column grid, complemented by ceiling heights exceeding 10m to accommodate diverse storage and automation requirements, writes M&G Real Estate.
Tenant commitment is reinforced by substantial fit-out and automation investments, further supporting renewal prospects, adds M&G Real Estate.
South Korea’s logistics sector is undergoing a structural shift, says M&G Real Estate, with e-commerce growth and automation sustaining new demand. “Modern facilities remain in high demand, while new logistics completions are projected to decline by nearly 87% between 2023 and 2026.”
M&G Asia Property Fund
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Acquired on behalf of the M&G Asia Property Fund, the fund will hold a majority 78.5% stake alongside two domestic institutional investors: Private School Teacher Pension Fund and Korea Fire Officials Credit Union. The fund is available for professional investors and institutional investors only.
Fund manager Jason Leong says Logisvalley Ansan “combines scale, connectivity and tenant quality, positioning it as a core logistics hub”. “With supply tightening across key markets, we focus on assets that are hard to replicate and essential to tenants’ operations. As the region’s largest open-ended core real estate strategy, the fund manages approximately US$7 billion in assets, giving us the scale and flexibility to capture opportunities across [the] Asia Pacific.”
Beyond South Korea, M&G Real Estate continues to see sustained opportunities in logistics and industrial sectors across the Asia Pacific, driven by long-term trends such as automation, urbanisation and the institutionalisation of logistics.
As part of M&G’s US$105 billion private markets division, M&G Real Estate manages approximately US$45 billion of assets globally. M&G Investments is part of M&G, a savings and investment business that was formed in 2017 through the merger of Prudential’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G listed as an independent company on the London Stock Exchange in October 2019.
M&G Real Estate Asia’s platform is supported by local teams in Australia, Japan, Singapore and South Korea.
Leong notes that the fund has been investing in logistics assets in Australia and Japan in recent years.
M&G Real Estate announced in February 2025 the acquisition of a 50% stake in Ingleburn Logistics Park in Sydney, Australia, for US$135.2 million, made on behalf of the M&G Asia Property Fund.
In January 2023, M&G Real Estate Asia said it had become a majority shareholder in the ESR Ichikawa Distribution Centre in the Greater Tokyo Bay Area by raising its stake from 25% to 58.3% for some JPY34 billion.
In August 2022, M&G Real Estate announced a partnership with ESR Group to develop a portfolio of logistics properties across Tokyo, Osaka and Nagoya. The partnership, for which M&G said it intends to deploy up to US$350 million in equity, would expand the ESR-managed and M&G-invested logistics portfolio to over US$1 billion in gross asset value.
In August 2021, M&G acquired a 40% interest in ESR Yatomi Distribution Centre, a prime logistics facility in Japan’s Nagoya area worth some JPY10 billion, on behalf of its core Asia Pacific property portfolio. ESR-REIT, then ESR-Logos REIT, acquired the asset in 2024.
