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   [kim.jeehee@joongang.co.kr]