Nuveen’s fund buys asset in South Korea
Nuveen’s Asia Pacific Cities Fund (APCF) has acquired a key logistics facility in the Greater Seoul area.
The firm said it partnered with Sang Investment to provide investment operations and capability on the ground in South Korea.
“We anticipate that the rapid expansion of e-commerce and associated third-party logistics demand in Asia Pacific, particularly South Korea, will underpin structural resilience in the sector,” Nuveen Real Estate’s managing director Asia Pacific, Louise Kavanagh, said.
“We anticipate that the rapid expansion of e-commerce and associated third-party logistics demand in Asia Pacific, and particularly south Korea, will underpin structural resilience in the sector.
“Seoul is one of the principal cities for investment for the APCF, offering a core, liquid, transparent, highly institutional and investable market.”
APCF was originally launched in November 2018 and aimed to focus on selected ‘future-proof’ cities across the Asia Pacific region.
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