The real estate firm focuses on localization in its global expansion, hiring local professionals rather than dispatching Korean employees for stronger networks and market adaptation. In a bid to accelerate its global investment, Vestas recently opened its first overseas branch in London. It manages 7.5 trillion won in assets as of end-June 2022 and will set up its first real estate investment trust (REIT) later this year, with underlying assets of domestic and overseas warehouses. Vestas has proactively invested in offices and logistics centers based in Europe and the US since 2016. The 180 billion won deal was under a 10-year lease contract with DSV A/S, a Danish transport and logistics company. One of the recent acquisition deals is the DSV logistics center in Tholen, the Netherlands that Vestas purchased via the first European warehouse fund in 2020. The investment firm manages 12 logistics centers and six office buildings in 10 European countries, including Germany, France, the Netherlands, Spain and Poland as well as the UK. Including the assets it has sold off, the firm’s cumulative investments in Europe reached 4.6 trillion won in 20 properties as of end-June 2022. The second fund will generate a steady cash flow based on stable portfolio strategies, consisting of quality tenants and assets in Europe, a Vestas official said.įounded in 2010, Vestas is the largest Korean real estate investor in Europe. It is the real estate investment manager’s second Europe-focused logistics fund, followed by the first one launched in 2020 with the same size of 300 billion won. has created a 300 billion won ($231.2 million) blind pool fund for Europe-based logistics centers.
South Korea’s Vestas Investment Management Co. Vestas acquired DSV logistics center in Tholen, the Netherlands in 2020
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