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Wed, February 2, 2022 | 19:47
Markets
Samsung Securities acquires Amazon's logistics center in Germany
Posted : 2019-09-04 21:27
Updated : 2019-09-06 18:50
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Samsung Securities CEO Jang Seok-hoon
Samsung Securities CEO Jang Seok-hoon
By Jhoo Dong-chan

Samsung Securities has signed a deal to acquire an Amazon logistics center in Germany for 260 billion won ($214 million), the brokerage said Wednesday.

The securities firm said it signed the deal recently with German real estate developer Iksokon to acquire Amazon's logistics center in Monchengladbach-Rheindahlen near Dusseldorf.

"Samsung Securities will initially injects 100 billion won for the deal while financing the remaining 160 billion won through mortgage loan from local financial institutes in Germany," a Samsung Securities official said.

The brokerage plans to structuralize the center's assets to establish an equity fund before reselling it in Korea. It expects an annual return of up to 8 percent via the fund.

French asset management firm La Francaise is running the fund there while Shinhan Alternative Investment Management is running the one in Korea.

"Amazon signed a long-term lease deal to use the logistics center. This guarantees a stable cash income," an industry insider said.

The deal is also the third of its kind for Samsung Securities to acquire an Amazon logistics center. The securities firm acquired the e-commerce giant's logistics center in Leicester, England, for 210 billion won in 2016 and another one in Hannover, Germany, for 110 billion won last year.

Samsung Securities also bought the Lumiere building in Paris for 1.5 trillion won earlier this year via a consortium with Hanwha Investment & Securities and Samsung SRA Asset Management.




Emailjhoo@koreatimes.co.kr Article ListMore articles by this reporter



 
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