ESR Kendall Square REIT Co., Ltd.
KKRX:3655503,100.00
KRW
+40.00
(+1.31%)
ISIN
KR7365550003
Return %
Stock
S&P 500
1Y
-30.18
13.14
3Y
-4.55
80.78
5Y
-51.03
67.74
Capital Structure
KRW
•
in mil. unless spec.Working Capital
KRW
•
in mil. unless spec.Growth Rates
KRW
•
in mil. unless spec.Quarterly Revenue
KRW
•
in mil. unless spec.Quarterly Earnings Per Share
KRW
•
in mil. unless spec.Quarterly Dividends Per Share
KRW
•
in mil. unless spec.Company Description
- CEO
- Ju-Hyun Cho
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- Three IFC Seoul SL South Korea 07326
- IPO Date
- Dec 23, 2020
- Website
- esrks-reit.com
- Similar Companies
- Business
- ESR Kendall Square REIT Co., Ltd. ESR Kendall Square REIT Co., Ltd. (365550.KS) operates as South Korea's first pure-play logistics real estate investment trust (REIT), focusing on the ownership, development, management, and leasing of modern logistics facilities including cold storage warehouses, distribution centers, and logistics parks; its portfolio comprises 20 state-of-the-art assets with an aggregated fair market value of 2.98 trillion KRW, a 98% occupancy rate as of June 2025, and strategic locations near key transportation hubs in Gyeonggi-do, Chungcheongnam-do, and Gyeongsangnam-do regions such as Icheon Logistics Parks 2-9, Yongin Logistics Parks 1-3, Anseong Logistics Parks 1-4, Gimhae Logistics Parks 1-2, Pyeongtaek Logistics Park, Goyang Logistics Park, Cheonan Logistics Park 1, and Bucheon Cold Logistics Park. The company, incorporated in 2020 and headquartered at Three IFC, 10 Gukjegeumyung-ro 35th Floor, Yeongdeungpo-gu, Seoul, South Korea, serves a diversified tenant base dominated by e-commerce giants like Coupang (over 60% of contracted gross floor area) and third-party logistics providers (28%), generating stable rental income through long-term leases with a weighted average expiry of approximately 3.7 years and recent renewals achieving 18% average rent increases. Backed by major shareholders including CPP Investments (21.52%), ESR KendallSquare (3.84%), and ESR KendallSquare REIT Holding Pte. Ltd. (6.42%), it maintains a strong financial profile with long-term debt of 1.49 trillion KRW, a 50% loan-to-value ratio, an A- credit rating from Moody’s Korea (as of October 2024), and a dividend per share of 274 KRW based on FY2024 results. Recent developments include portfolio expansion to 20 assets through strategic acquisitions such as the Icheon Logistics Park adding to its 1.2 million square meter gross floor area, a December 2023 refinancing of approximately $373 million in senior loans at a sector-low 4.7% rate, and in May 2025, providing KRW 600 million in funding to affiliate ESR Kendall Square Asset No.3 REIT Co., Ltd. via a share placement while pursuing capital recycling through potential disposals of up to five assets amid market normalization.