Blackstone buys control of a South Korean logistics development

Blackstone ($BX) acquired a majority interest in South Korea’s Sanha Logistics Park II through a primary share issuance. ESR Kendall Square remains an investor and will continue managing the project’s development and assets.

Financial terms were not disclosed, so the announcement does not establish the purchase valuation or expected investment return. The transaction expands Blackstone’s Korean logistics exposure while preserving the existing manager’s role. It concerns the property project, not ESR Kendall Square’s entire business.

Sources:

• Reuters — South Korean logistics investment