Korean institutional investors have acquired the global headquarters and logistics assets of Danish transport firm DSV.
Savills Investment Management (IM) said it has acquired the asset in Hedehusene for an undisclosed sum on behalf of Vestas Investment Management and their Korean investors.
The acquired assets include DSV鈥檚 global headquarters office building, originally constructed in 2015 and currently undergoing a 10,500sqm extension; a cross-dock logistics facility used by DSV鈥檚 road division; and a new warehouse asset completed in December last year.
This latest acquisition brings Vestas IM鈥檚 European logistics assets under management to 鈧�1bn, of which 鈧�470m is in partnership with Savills IM.
Alistair Ennever, Savills IM senior transaction manager, said: 鈥淲e are delighted to have acquired these high-quality and strategic assets on behalf of Vestas IM and their investors.
鈥淲e 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.鈥�
Savills IM and 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 SIRIUS advokater.
Steen Puch Holm-Larsen, partner, Bech Bruun, said: 鈥淭his transaction is one of the larger transactions of its kind in Denmark in recent years and has all elements of a multijurisdictional and complex cross-border deal with multiple work streams and several layers of documentation.鈥�
Michael Kr枚ger, head of international real estate finance at Helaba, said: 鈥淲e are proud to assist our clients Savills IM and Vestas IM with this very interesting project. The transaction confirms our view that Denmark is enjoying an increase in international investor appetite.
鈥淭he transaction demonstrates our approach to follow our international clients further into their target markets, including the Nordics.鈥�
