Savills IM extends Vestas partnership with logistics fund

Savills Investment Management, the international real estate investment manager, has extended its partnership with a global partner on energy solutions, Vestas Investment Management, with a pan-European logistics investment fund.

The Vestas European Strategic Allocation Logistics Fund (VESALF I) is an innovative blind fund raised via Korean institutional investors that will target logistics assets worth between £36m and £126m across key European markets.

Vestas, who has raised £180m so far, will have its European funds and assets managed by Savills IM.

Jon Crossfield, head of strategic partnerships at Savills IM, said: “Having advised and worked closely with Vestas for several years, we are delighted that the relationship has now led to us jointly establishing the first blind logistics fund for Korean institutions. 

“Institutions are increasingly willing to back partners they trust, to better access stock in competitive markets and to achieve greater portfolio diversification.”

The scheme has commenced with the recent acquisition of a 115,000 sq m unit in the Netherlands, and is expected to extend into the UK at a later date.

Salvatore Lee, managing director at Vestas, added that the blind logistics fund is a “big step” for the firm’s entry into a “dynamic and competitive logistics market”.

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