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Sign in Sign up for a FREE subscriptionKorean-backed logistics fund acquires asset in Poland
Savills Investment Management, on behalf of its Korean-backed logistics fund, has exchanged contracts to acquire a logistics property in Łódź, Poland, for €65.5 million ($79.3 million) from Tritax EuroBox plc.
It constitutes Savills IM’s second transaction on behalf of the Vestas European Strategic Allocation Logistics Fund (VESALF I), a pan-European logistics investment fund launched in partnership with Vestas Investment Management in late November 2020. The 100,000-square-meter (1.08 million-square-foot) asset is leased to Castorama, a French retailer specializing in DIY and home improvement supplies.
VESALF I is among the first “blind” funds raised solely from Korean institutional investors to invest in European real estate, and it targets core/core-plus logistics assets across all key European markets. The fund was seeded with a new 115,000-squ