Corporate Milestones

On 20 January 2022, ESR officially completed the acquisition of ARA. The enlarged ESR Group is now APAC’s largest real asset manager powered by the New Economy, and the third largest listed real estate investment manager globally

ESR-REIT has been renamed as ESR-LOGOS REIT, following the completion of the merger between ESR-REIT and ARA LOGOS Logistics Trust

With effect from 15 March, ESR Cayman was included as a constituent of the Hang Seng Composite Index (HSCI), and the Shanghai-Hong Kong Stock Connect and Shenzhen-Hong Kong Stock Connect programmes

Expanded into the data centre business by acquiring a key data centre asset in Osaka, which will be developed into a US$2 billion multi-phase data centre campus of up to 78MW IT load, and a strategic asset in Hong Kong, which will be developed into a 40MW data centre, respectively

Upsized the joint investment in Korea Income Joint Venture to US$1 billion with CPP Investments

Made our maiden entry into Vietnam through a joint venture with BW Industrial

Completed the acquisition of A$3.8b Milestone Portfolio and operating business from Blackstone in partnership with GIC. The acquisition marked Australia’s largest ever logistics and general property portfolio transaction

Doubled the size of Japan Logistics Fund III (RJLF3) to JPY150 billion

Launched Australia Logistics Partnership II (EALP II), an extension of the successful EALP

Announced the proposed acquisition of 100% of the share capital of ARA Asset Management for US$5.2 billion

Established ESR China Development Platform (ECDP) with an initial equity commitment of US$1 billion with APG and another global institutional investor to develop and own institutional-grade logistics facilities in China

Announced ESR-REIT’s proposed merger with ARA LOGOS Logistics Trust to form ESR-LOGOS REIT, representing one of the value-enhancing steps under the proposed ARA acquisition

Launched ESR Japan Income Fund (JIF) with a target of US$10 billion GAV by 2026

Closed our first Sustainability-Linked Loan and subsequently upsized it to the hard cap of US$1 billion within one month

ESR Kendall Square REIT closed US$400 million follow-on equity offering, which marked the largest ever follow-on offering for a listed REIT in Korea

Entered into a strategic partnership with GIC to establish a joint venture focusing on the development of institutional grade facilities in key cities across the PRC

Bucheon Logistics Park received APAC’s first Gold Certification for logistics properties from International WELL Building Institute’s (IWBI) WELL Building Standard (WELL)

In March, launched the core-plus ESR Australia Logistics Partnership (EALP), which was anchored by GIC. In September, GIC increased its stake in EALP to 80%, following the selldown of ESR Australia’s stake in line with the strategy outline at the time EALP was established

Established a new development joint venture with APG and CPP Investments, ESR-KS II, to invest in and develop an industrial and warehouse logistics portfolio in the Seoul and Busan metropolitan areas

Launched ESR Australia Development Partnership (EADP), an Australia-focused develop-to-hold logistics fund, anchored by GIC as the cornerstone investor

Established a new joint venture with Manulife and PGGM, which completed the acquisition of four institutional-grade logistics properties from RCLF

Completed the development of ESR Amagasaki Distribution Centre, the largest domestic consumption warehousing project in Japan and in APAC with a GFA of 388,570 sqm

In joint venture with AXA Investment Managers - Real Assets, completed the acquisition of ESR Kuki Distribution Centre in Greater Tokyo, from RJLF II

With effect from 30 November, ESR Cayman has been included as a constituent of the MSCI Hong Kong Index

EALP purchased a portfolio of 11 assets primarily located in Sydney, Melbourne and Brisbane from Propertylink Australian Industrial Partnership II (PAIP II), an ESR-managed partnership

Established a joint venture with GIC to develop and invest in industrial and logistics real estate in India

Successfully listed ESR Kendall Square REIT (stock code: 365550) on the KRX KOSPI Market of the Korea Exchange

In April acquired 100% of the securities of Propertylink, and Propertylink was subsequently delisted from the ASX

Established the Japan Logistics Fund III in May

Increased our holdings in the equity interest of Sabana Manager to approximately 96.0% in August

Entered into an umbrella agreement in August to establish our new fund in Australia

Completed the disposal of seven balance sheet properties to NCI Core Fund

Listed on the Main Board of The Stock Exchange of Hong Kong on 1 November (Stock Code: 1821)

Made a strategic investment in the Hong Kong-listed China Logistics Property Holdings, the third largest logistics real estate player in the PRC

Established our first South Korea core fund

Acquired the entire equity interest in Commercial & Industrial Property Pty Ltd (CIP), a leading property development group in Australia

In October, ESR-REIT merged with Viva Industrial Trust (VIT), marking the first merger of REITs listed on the Singapore Exchange

Established our first Japan core logistics fund, under which we subsequently formed a new core joint venture in December with AXA Investment Managers – Real Assets and a major sovereign wealth fund

Partnered with New China Life Insurance Company Ltd. and established the NCI Core Fund

Established our first logistics and industrial fund in India with a global real estate investor based in Germany

Established our first PRC core fund to focus on investing in mature income-yielding logistics properties in the PRC

Expanded into the Singapore market and obtained control of the ESR-REIT manager and subsequently became the second largest unitholder of ESR-REIT

Expanded into the Indian market and established an experienced local management team

Expanded into Australia by becoming the largest securityholder of Centuria Capital Group (an ASX-listed property funds manager); and making an equity investment in Propertylink Group (a real estate group specialising in Australian industrial and office investments, listed on ASX) and became its single largest securityholder

In January, e-Shang and Redwood merged to form ESR

Launched ESR’s first post-merger development fund in Japan

e-Shang formed a Korea logistics development fund

e-Shang formed a PRC logistics development fund

e-Shang expanded into South Korea

Redwood formed its first Japan logistics development fund

Redwood formed its first PRC logistics development fund

Warburg Pincus co-founded e-Shang with Jeffrey Shen

Charles Alexander de Portes and Stuart Gibson founded the Redwood group to invest in modern logistics facilities in Asia