ESR takes stake in Vietnam’s logistics, industrial player BW Industrial

ESR Group has led a funding round to take a strategic equity stake in BW Industrial Development Joint Stock Company (BW) as a part of BW’s larger primary capital raise of as much as $450 million that includes other leading strategic and financial investors in Asia.

BW is Vietnam’s largest and fastest-growing pure-play logistics and industrial developer with about $2 billion of gross assets under management. Its current portfolio comprises the country’s largest land bank of more than 8 million square meters (86.1 million square feet) and more than 2 million square meters (21.5 million square feet) of gross floor area in operation and under development with more than 85 percent in Greater Hanoi and Ho Chi Minh City. Since its inception in 2018, BW has developed relationships with nearly 200 tenants from more than 20 countries, the majority of which are ecommerce, last-mile delivery and high-tech manufacturing players. BW operates Vietnam’s first and largest ecommerce an