406-10 Sinhae-ri, Ganam-eup, Yeoju-si, Gyeonggi-do, 12655, KR

Yeoju Shinhari Logistics Recapitalization(NPL)

Asset Description

This project involves the development and pre-sale of a logistics center located in Yeoju. With a total floor area of 34,686sqm, the project has reached an actual completion rate of 81.8%.
It is a combined Dry/Cold storage logistics center, but as it is currently pre-completion, the plan is to develop the cold storage floor into Dry storage.
It is located in the southwestern part of Gyeonggi Province, 2.5km in a straight line from the Dong-Icheon IC of the Yeongdong Expressway (scheduled to open in 2025).

<Building Overview>

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Land area gross

18,433 m²

Building area net

34,688 m²

Rentable area

30,189 m²

Floor to ceiling height

9.7 m

Year built

2025

The project is currently seeking pre-completion guaranteed purchase commitments from institutional investors at KRW 4.5million per pyeong(3.3sqm).
Initially structured as a PFV (Project Finance Vehicle), construction was halted due to the main contractor, W construction, filing out court receivership in June 2024.
Negotiations for the sale of NPL(Non-Performing Loan) bods with existing lenders have been completed, and the process of debtor separation related to the sale will be managed independently.
Currently, discussions are underway with the project developer and potential construction companies regarding the feasibility of completion under the confirmed sale price condition (KRW 4.5 million per pyeong), with positive indications thus far.