[Asia Economy Reporter Minji Lee] Maston Asset Management's first REIT, Maston Premier REIT, announced on the 18th that the effectiveness of the securities registration statement submitted to the Financial Services Commission on the 1st took effect on the 17th, marking the official start of the public offering process.
According to the securities registration statement, the public offering price of Maston Premier REIT is 5,000 KRW per share, with 11.86 million shares to be offered, aiming to raise 59.3 billion KRW through this offering. Demand forecasting for domestic and foreign institutional investors will be conducted on May 2-3, followed by subscription for general investors on May 12-13. Samsung Securities is the lead underwriter.
Maston Premier REIT is a global REIT holding high-quality domestic and international assets as underlying assets, including Amazon logistics centers in France (Normandy, Southern France), Incheon Hangdong Smart Logistics Center, and Crystal Park Office in France.
The asset group located in France has long-term lease contracts linked to the commercial real estate rent index (ILAT). Since the real estate rent index is calculated based on the inflation index, dividend yield increases can be expected in an inflationary environment. The Amazon logistics center in France is leased 100% by Amazon, the world's leading logistics company, with a 12-year master lease contract completed, ensuring stability. It is located in strategic last-mile hub areas chosen by Amazon, the top company in the e-commerce industry, in Normandy and Southern France.
The Incheon Hangdong Smart Logistics Center is a newly built cold storage logistics center leased 100% by Coupang. With a large hinterland population of about 6.77 million in Incheon and western Gyeonggi Province, the asset's attractiveness is further highlighted as an optimal logistics infrastructure point.
The Crystal Park Office in France is an office building used as headquarters by leading global companies such as PricewaterhouseCoopers (PwC) and Est?e Lauder. It is designed to practice ESG (environmental, social, governance) management in daily life along with a pleasant outdoor environment. In fact, the Crystal Park Office in France has obtained the 'Excellent' grade from BREEAM, the UK's green building certification system.
The asset management company (AMC) of this REIT, Maston Investment Management, has a cumulative assets under management (AUM) of about 30 trillion KRW as of the first quarter of this year. Daehyung Kim, CEO of Maston Investment Management, said, “From the early stages of launch, we have built differentiated capabilities and expertise across various sectors through value-add and opportunistic investments with global leading asset managers. We will proactively enter growth regions and sectors to develop Maston Premier REIT into a representative listed REIT in Korea.”
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
