Savills Investment Management (Savills IM) has acquired the global headquarters and logistics assets of DSV, the Danish transport company, on behalf of Vestas Investment Management (Vestas IM) and their Korean institutional investors.
The transaction comprised three assets, including DSV’s global headquarters office building, originally constructed in 2015 and currently undergoing a 10,500 sq m extension; a cross-dock logistics facility used by DSV’s Road division; and a new warehouse asset completed in December 2019, which will serve clients of DSV’s Solutions business.
All of the buildings are located in Hedehusene, c. 30km west of Copenhagen, and will be leased back to DSV on long-term commitments.
This latest acquisition brings Vestas IM’s European logistics AuM to c. EUR 1bn, of which c. EUR 470m is in partnership with Savills IM.
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Savills IM / Vestas IM were advised by Bech Bruun, PwC, Nordicals and Niras, with Helaba acting as sole lender and underwriter, being advised by DLA Piper Denmark. DSV was represented in the transaction by SIRIUS advokater.
” Pricing and investor demand for logistics shows no sign of weakening, and we remain convinced by the sector’s growth story and strong income fundamentals.”
”We are delighted to have acquired these high quality and strategic assets on behalf of Vestas IM and their investors. We have been seeking the right opportunity in the Nordics to leverage our strong local presence and our international fundraising capability, which combined to bring this transaction together. We are very pleased to have concluded another transaction with our partners at Vestas IM and look forwards to doing more together in 2020,” said Alistair Ennever, Senior Transaction Manager, Savills Investment Management.
”We have concluded multiple transactions with DSV, and this latest acquisition represents our continued belief in their business and long-term occupation, as well as the logistics sector in general. Pricing and investor demand for logistics shows no sign of weakening, and we remain convinced by the sector’s growth story and strong income fundamentals,” he added.