Blackstone Takes Majority Stake In Greater Seoul Logistics Development

According to The Korea Herald, Blackstone has acquired a majority stake in Sanha Logistics Park II, a dry-storage logistics development in Greater Seoul that includes Incheon and Gyeonggi Province, in partnership with Singapore-based real estate manager ESR. Funds managed by Blackstone Real Estate Partners invested for a majority interest in the project as the asset manager seeks to capitalize on continued growth in South Korea's logistics market.