Jan 06, 2021 (Gmt+09:00)
ENG
ESR Kendall Square REIT s property portfolio
The Canada Pension Plan Investment Board (CPPIB) has emerged as the top shareholder in South Korea’s only listed logistics real estate investment trust (REIT), which made its trading debut last month.
Of CPPIB s 24.85% stake in ESR Kendall Square REIT Co., around two-thirds of its holding was converted from bonds last year, meaning the Canadian pension must hold them until Oct. 26 of this year under the one-year mandatory holding requirement. Its ownership is expected to provide downside protection to the share price of the REIT, managed by a Korean unit of ESR, Asia’s largest logistics real estate investor.