Blackstone Real Estate Partners has acquired a last-mile logistics portfolio in the Seoul Metropolitan Area, comprising two Grade A logistics centers totaling 1.3 million square feet.

Information on the Target

Blackstone Real Estate Partners, via QUBE Industrial Asset Management funds, has successfully acquired a high-quality last-mile logistics portfolio in the Seoul Metropolitan Area. This portfolio consists of two state-of-the-art, Grade A logistics centers totaling 1.3 million square feet, located in Gimpo and Namyangju, areas renowned for their strategic importance within Greater Seoul's logistics landscape.

The logistics centers are occupied by prominent tenants from various major local and international corporations operating in the e-commerce and logistics sectors, reinforcing the portfolio's quality and positioning in the market.

Industry Overview in South Korea

In South Korea, the logistics industry is experiencing significant growth, driven predominantly by the booming e-commerce sector. As consumer behavior increasingly shifts toward online shopping, demand for effic