Canada Pension Plan Investment Board is partnering with ESR and its Kendall Square Asset Management unit on a platform that will invest US$500 million in modern logistics facilities in South Korea.

The partnership will initially seed the platform with a six-asset logistics portfolio, encompassing 270,000 square meters of gross floor area, and will seek out core to value-added assets thereafter.

Kendall Square will earmark new assets and provide asset management services to the portfolio.