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Mirae Asset set to acquire Amazon logistics centers in US: sourcesBy Jie Ye-eun
Published : Sept. 9, 2020 - 15:12
Mirae Asset Global Investments, the asset management arm of South Korean financial group Mirae Asset, was selected as a preferred bidder to acquire Amazon’s logistics centers in the US for $17 million, according to local industry sources Wednesday.
The three logistics centers, located in Indiana, Ohio and North Carolina, have been put on sale by Scannell Properties, a US real estate development firm, they said. The centers handle Amazon’s last-mile delivery.
While Amazon is set to lease the logistics centers until 2032, annual increases on the lease are fixed at 1.5 percent with a cap rate of 5 to 5.1 percent.
The deal is set to be Mirae Asset’s first acquisition overseas since its contract with China’s Anbang Insurance Group to acquire 15 luxury hotel properties in the US for $5.8 billion in September last year.
Mirae and Anbang, however, are in a legal dispute over the deal, with the former requesting the return of its 10 percent payment, saying the latter failed to fulfill its legal duty to close the deal.
By Jie Ye-eun (firstname.lastname@example.org)
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