ESR Raises Capital For The Final Phase Of A 650,000 M2 Japanese Logistics Project

APAC asset manager ESR has secured additional third-party capital to develop the final phase of a 650,000 sqm logistics project in the Japanese capital. 
 ESR announced that it has raised capital from an undisclosed investor to develop the second phase of the ESR Higashi Ogishima Distribution Center (HO DC 2) in the  Tokyo metropolitan area. The amount of capital raised was not disclosed. 
 Construction of HO DC 2 is scheduled to begin in 2025. This is a  slightly lower expected investment than for HO DC 1, which comprises an eight-story building with a total usable area of ​​306,000 m².

Capital for the partial  land sale and related investment financing commitments will be provided by ESR Japan Logistics Fund III, ESR's development fund established in 2019 with Dutch pension fund manager APG and an Asia-based sovereign wealth fund. 

 Stuart Gibson,  co-founder and CEO of ESR Group, said: “ESR is proud of this initiative, which reflects the close relationships and excellent track record we have built with our investors.” We would like to thank our financial partner for their continued support and support Trust in our expertise in developing high-quality logistics properties with high long-term sales potential.