KKR Acquires Cheongna Logistics Center

Transaction marks the largest single asset logistics transaction in South Korea

SEOUL, South Korea--(BUSINESS WIRE)-- KKR, a leading global investment firm, and its affiliated Korean asset manager, Kreate Asset Management (“Kreate”), today announced the completion of the acquisition of Cheongna Logistics Center, a high-quality logistics facility located in Incheon, invested by funds managed by KKR, through a fund managed by Kreate in Korea. This represents the largest single asset logistics transaction in Korea to date.

Completed in 2022, Cheongna Logistics Center is a large-scale, modern 4.6-million square feet logistics facility that stands out for its strategic location and strong connectivity to major transportation hubs within the Greater Seoul metropolitan area. Modern logistics facilities play an increasingly critical role in supporting Korea’s rapidly evolving, e-commerce-driven economy as demand for large, high-specification warehouses that can support sophisticated logistics and fulfillment operations continues to grow. Driven by sustained tenant demand and the depth and resilience of Korea’s modern logistics sector, Cheongna Logistics Center is today a fully occupied asset.

Following the acquisition, Kreate, focused on commercial real estate, with expertise in logistics, offices, hospitality and rental housing assets in Korea, will manage and operate Cheongna Logistics Center, while KKR will support on value creation strategies and help maintain the high quality of the asset.

David Cheong, Head of Acquisitions of Asia Real Estate, KKR, said: “As distribution networks become more complex and modern logistics play a growing role in supporting Korea’s modern economy, we are delighted to invest in Cheongna Logistics Center, a leading logistics facility with sophisticated capabilities in a strategic location. We look forward to supporting its continued growth by leveraging our global real estate and logistics expertise alongside Kreate’s local capabilities, while further expanding our exposure in the logistics sector and through deepening our collaboration with Kreate.”

KKR is making its investment predominantly through its Asia real estate strategy. This investment marks KKR’s latest real estate investment in Korea, which has included Incheon Metro Logistics, a prime, large-scale warehouse development in Incheon; Hwaseong Jegi Logistics Centre, a high-quality warehouse in a core logistics location in Hwaseong; Centerfield, a prime office complex in Seoul’s Gangnam Business District; and Namsan Green Building, a quality office building in Seoul’s Central Business District (CBD). This also marks KKR’s latest investment in the logistics space, which has included LOGISTEED, a leading third-party logistics company headquartered in Japan, and Reliance Logistics Group in India.

Additional financial terms were not disclosed.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About Kreate Asset Management

Established in 2024 by global investment firm KKR, Kreate Asset Management is a leading real estate investment management company in Korea. Led by a team of senior executives with a proven track record and extensive management experience in Korea’s real estate sector, Kreate Asset Management focuses on commercial real estate, including offices, logistics centers, hospitality and rental housing assets. Through its robust investment and operational capabilities, Kreate Asset Management provides bespoke partnership capabilities and services to global and domestic investors. For more information, please visit https://kreateam.co.kr/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20251229774474/en/

Media



For KKR

Wei Jun Ong

+65 6922 5813

weijun.ong@kkr.com



For Kreate Asset Management

Miri Jeon

+82 2-6953-9334

miri.jeon@kreateam.co.kr

Source: KKR