Savills IM picks up Danish site for Korean investors

International real estate manager Savills Investment Management (Savills IM) has acquired a key Danish office and logistics site on behalf of Vestas Investment Management (Vestas IM) and their Korean institutional investors.

Financial details were not disclosed.

The site, located in Hedehusene, some 30 km west of Copenhagen, comprises the global headquarters of Danish transport company DSV which will be leased back in full on a long-term agreement.

The transaction includes three assets, namely DSV's head office, which is currently undergoing a 10,500 m2 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.

The deal brings Vestas IM’s European logistics assets under management to around €1 bn, of which €470 mln is in partnership with Savills IM.

Alistair Ennever, senior transaction manager, Savills IM, commented: '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.'

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 law firm Sirius.

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