Shinhan Financial buys Amazon warehouse in the U.S.
Shinhan Financial Group is buying a to-be-completed Amazon fulfillment center in the United States in cooperation with IGIS Asset Management, a Seoul-based property investor with $27 billion under management.
The 465,000-square-foot warehouse is located in Albuquerque, New Mexico, and will be completed next year.
In the $280 million transaction, Shinhan Bank will provide a $188 million loan and Shinhan Investment will purchase $93 million of mezzanine debt and equity.
The consortium will lease the facility back to Amazon for a period of 20 to 45 years.
BY KIM JEE-HEE [firstname.lastname@example.org]
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