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South Korea's KTB acquires Tesco warehouse in Ireland for €160M

South Korean investor KTB Investment & Securities Co. Ltd. purchased the Tesco distribution center in Ireland from a South African property fund for about €160 million in an off-market transaction, The Irish Times reported.

The 73,207-square-meter warehouse in Donabate, County Dublin, is the largest building in Ireland, the publication said, and has a lease agreement with Tesco PLC until 2032, with annual rent increases in line with the consumer price index.

Cushman & Wakefield, Ashurst LLP, Walkers Global and KPMG advised KTB on the transaction, The Irish Times noted.