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Sign in Sign up for a FREE subscriptionSavills IM extends Vestas partnership with launch of discretionary logistics fund
Savills Investment Management has launched a pan-European logistics investment fund in partnership with Vestas Investment Management.
The Vestas European Strategic Allocation Logistics Fund (VESALF I) is among the first ever “blind” funds that has been raised solely from Korean institutional investors to invest in European real estate. It will target core/core-plus logistics assets of between €40 million to €140 million ($48 million to $167 million) across all key European markets.
Savills IM will be the European fund and asset manager in partnership with Vestas, who have raised the capital for the fund from Korean institutional investors. Vestas has raised €200 million ($239 million) which, combined with manager co-investment and up to 60 percent gearing, will give the fund a target gross asset value of €450 million to €500 million ($538 million to $597 million).
The fund will be seeded with the recent acquisition of a new 115,000-square-meter (1.
