Maston Asset Management Acquires Six Key Logistics Centers in Central Paris

[Asia Economy Reporter Lim Jeong-su] Maston Investment Management has acquired six key logistics centers located around major urban areas in France all at once. These logistics centers are expected to be occupied and used by Amazon, the largest online retail company in the United States, and logistics company Fedex.

According to the investment banking (IB) industry on the 9th, Maston Investment Management formed a private real estate fund called ‘Maston Europe Specialized Investment Private Real Estate Investment Trust No. 30’ and recently acquired six logistics centers in key areas of France that have either just been completed or are scheduled to be completed soon. The acquisition funds are reported to be approximately 250 billion KRW.

Key investors such as Kiwoom Securities participated in this private fund. Kiwoom Securities raised investment funds amounting to 120 billion KRW through equity and loan securitization methods, contributed capital to the private fund, and also provided some loans. The equity shares and loans were transferred to a special purpose company (SPC) established under Kiwoom Securities’ management, which then issued short-term asset-backed commercial papers based on these assets.

The six logistics centers are located in Paris, the capital of France, and Toulouse, one of the four major cities near the Spanish border. Among the six centers, two are already operational, while the remaining four are currently under construction. For the logistics centers under construction, a pre-purchase agreement was signed to acquire them after completion.

Maston Investment Management signed long-term lease (master lease) contracts with French logistics company Mondial Relay, American companies Amazon and Fedex. The lease terms range from 5 to 7 years, with options for extension. The lease payments from these companies will be distributed as dividends to the fund investors.

Maston Investment Management continues to expand its domestic and international logistics facility portfolio by acquiring or investing in logistics centers such as the Gimpo Hakun 5 General Industrial Complex logistics center, Coupang Anseong logistics center, Icheon International logistics center, Yongin Hanmi logistics center, and Changwon LG logistics center.

Last year, it also attracted attention by acquiring large office towers such as Doosan Tower in Seoul and Donuimun Centerpoint for several hundred billion KRW each.