Hong Kong-listed real estate group ESR announced that it is acquiring the remaining 13.6% interest in LOGOS, one of the region’s top logistics property groups, held by LOGOS founders.
The acquisition of the remaining shares will complete ESR’s acquisition of LOGOS, originally set for January 2025, per the announcement.
With the integration, LOGOS co-founder and co-CEO John Marsh will take on a leadership role within the group as chairman of the combined infrastructure business and chairman of the combined ANZ platform. Additionally, Marsh will become a member of the ESR Group investment committee.
“In growing the infrastructure platform, I will look to build on the significant achievements already made by the team, including the over $1 billion of equity raised and the multiple in-country renewable energy joint ventures established,” Marsh said.
The combination of ESR and LOGOs creates a platform under the ESR brand with total assets under management of $156 billion.
“As a united company, we will unleash the full potential of our combined fund management and development platform spanning various sectors and geographies,” said Stuart Gibson and Jeffrey Shen, ESR Group’s co-founders and co-CEOs.
ESR manages around $150 billion in total assets, including warehouse and data centres, across key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia.
In 2019, the firm raised around HK$14 billion in its public debut on the Hong Kong stock exchange.
The acquisition of LOGOS brings ESR’s New Economy AUM in Asia Pacific to $71 billion and raises its development workbook to $14 billion, according to the announcement.
ESR earlier announced that it received the Chinese securities regulator’s approval to list its logistics real estate firm in the country and expected to raise around 2.44 billion yuan ($336.02 million) from the listing.
