On Nov 6, M&G Real Estate Asia, the real estate fund management arm of M&G Investments, announced it has acquired logistics assets in South Korea and Japan. The acquisitions totalled US$211 mil ($288 mil).

Homeplus Hub Logistics Centre in South Korea was acquired for US$136 mil; Higashi Ogijima Logistics Centre in Japan was acquired for US$75 mil.

Homeplus Hub is a fully leased distribution facility in Ansung City, fully tenanted by Homeplus, South Korea’s largest hypermarket operator. Higashi Ogijima Logistics Centre is a high-grade facility in Kawasaki Port in Greater Tokyo. It is fully leased to two logistics tenants.

M&G has over US$3.2 billion in assets in the Asia Pacific.