M&G Real Estate, through its Asia Property Fund, has acquired a prime seven-storey logistics facility in the Seoul Metropolitan Area for 512.3 billion won ( US$350 million ).

The fund will hold a majority 78.5% stake in Logisvalley Ansan, alongside two domestic institutional investors – Private School Teacher Pension Fund and Korea Fire Officials Credit Union.

The investment strengthens the fund’s Asia-Pacific logistics portfolio and builds on M&G’s regional capabilities and established track record of investing in high-quality, income-generating assets across key markets in the region, the company says.

South Korea’s logistics sector is undergoing a structural shift, with e-commerce growth and automation sustaining new demand, according to M&G.  Modern facilities remain in high demand, while new logistics completions are projected to decline by nearly 87% between 2023 and 2026. Restrictions on new developments, including on building height and length, are reinforcing the scarcity value of modern, large-format industrial assets.

Located in Ansan’s West sub-market within the Seoul Metropolitan Area, Logisvalley Ansan is a large-scale facility spanning approximately 240,000 square metres, with strong connectivity to major infrastructure for last-mile and regional distribution.

Anchored by a leading South Korean e-commerce giant and a major lifestyle retail brand, the facility provides stable income and growth potential in a tightening market, M&G says.

Beyond Korea, M&G Real Estate continues to see sustained opportunities in logistics and industrial sectors across Asia-Pacific, driven by long-term trends such as automation, urbanization, and the institutionalization of logistics.  A part of M&G’s US$105 billion private markets division, M&G Real Estate manages approximately US$45 billion of assets globally.