USD 250 million for logistics real estate in Asia
ESR and its affiliate Logos have completed th finance round for the co-branded Pan Asia Core+ Venture (PACV) and raised USD 250 million in equity commitments in total.
This initial raising includes investment from two institutional capital partners in Europe and America: the German Nordrheinische Ärzteversorgung pension fund (NAEV) and a large US State pension fund.
With the acquisition of ARA and Logos in January 2022, the Pan-Asia Core+ Venture represents the second co-branded venture for the enlarged group, following the ESR LOGOS REIT.
PACV is planning to invest in logistics assets in Asia Pacific with an initial focus on the developed markets of Australia, New Zealand, Singapore, Japan, and South Korea. (cd)