Wide Creek: Anseong Logistics Center to Meet Rising Life Sciences Demand
Deal News | Mar 25, 2025 | Warburg Pincus
Warburg Pincus and Wide Creek Asset Management have formed a strategic joint venture to deepen their stakes in South Korea's logistics real estate market. The latest acquisition is an 82,000-square-meter site in Anseong, Gyeonggi Province, for developing a large-scale logistics center primarily targeting the life sciences sector. With advanced logistics architecture and connectivity to major highways, the facility aims to support strong demand from premium tenants in South Korea’s burgeoning life sciences and pharma sectors. The partnership has previously acquired a site in Yangju, expanding their leased spaces to over 244,000 square meters with an estimated value exceeding half a billion dollars. Warburg Pincus, a global private equity powerhouse known for its prowess in real estate investments, confirms its long-term commitment to capturing growth opportunities in the country’s new economy real estate sectors. Meanwhile, Wide Creek, known for its innovative asset management approach, leverages Warburg Pincus' substantial experience to enhance its portfolio in the real estate domain.
Sectors
- Real Estate
- Private Equity
- Logistics
- Life Sciences
Geography
- South Korea – The location of the logistics development, as well as the area of operation for the joint venture between Warburg Pincus and Wide Creek.
- Asia – Warburg Pincus has a significant investment focus in multiple Asian markets, including South Korea.
Industry
- Real Estate – Involves the investment and development of properties, specifically focusing on logistics centers and life sciences buildings in South Korea.
- Private Equity – Warburg Pincus, a major private equity firm, is heavily involved in real estate investments in Asia, hence this classification.
- Logistics – The development of a logistics center underscores the expansion within the logistics industry to meet increased demand.
- Life Sciences – With 70% of the new facility pre-leased to life sciences sector tenants, highlighting the importance of the industry to this investment.
Financials
- 244,000 square meters – Total net leasable area managed by the joint venture after the Anseong acquisition.
- Over half a billion US dollars – Estimated portfolio value of the joint venture upon completion of current development projects.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Warburg Pincus | PE Firm/Investor | Company | A global private equity firm focusing on growth investments, including major involvement in real estate ventures in Asia. |
| Wide Creek Asset Management | Joint Venture Partner/Asset Manager | Company | A leading real estate manager in South Korea, partnering with Warburg Pincus to focus on new economy real estate sectors. |
| Li Fan | Managing Director | Person | A key executive at Warburg Pincus, providing insights into strategic investments and growth opportunities. |
| Kim Junghoon | CEO and Co-Founder | Person | CEO of Wide Creek Asset Management, overseeing the strategic direction and growth of the company's real estate projects. |