Vestas Asset Management Invests in Amazon Logistics Center Stakes in Pennsylvania and Colorado, USA

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[Asia Economy Reporter Lim Jeong-su] Vestas Asset Management, a real estate investment management company, is making an equity investment in a real estate investment trust (REIT) that owns two Amazon logistics centers located in Pennsylvania and Colorado, USA. Since 2016, Vestas Asset Management has rapidly expanded its logistics center portfolio mainly in Europe and has recently been aggressively investing in U.S. logistics centers.

According to the investment banking (IB) industry on the 18th, Vestas Asset Management invested in a U.S. logistics center REIT through the real estate private equity fund ‘Stars Specialized Investment-type Private Real Estate Investment Trust No. 74.’ To do this, it gathered a private equity fund consortium consisting of financial companies such as banks and securities firms. The fundraising was recently completed, and the investment funds are expected to be executed soon.

The REIT in which Vestas Asset Management is making an equity investment owns two large logistics centers located in eastern Pennsylvania and midwestern Colorado. These are newly constructed logistics centers completed in the third quarter of this year, and Amazon is known to have agreed to a long-term lease for their use.

Vestas Asset Management has been expanding its overseas logistics center portfolio starting with the acquisition of an Amazon logistics center in Leicester City, UK, for 205.7 billion KRW in 2016.

In March 2018, it acquired Amazon logistics centers located in Italy and Poland, and also invested in Amazon logistics centers in Seville, Spain, and the Invesco area in Poland, as well as the DSV logistics center in Copenhagen, Denmark.

Domestically, it purchased a cold logistics center in the Yeongnam region, which Coupang leases long-term, for 73 billion KRW. In the first half of this year, it also pursued the acquisition of an Amazon logistics center in Virginia, USA.

Last year, Vestas Asset Management attracted industry attention by establishing a 300 billion KRW blind fund for overseas real estate investment, becoming the first independent domestic asset manager to do so.

An IB industry official said, "With the explosive increase in logistics demand due to COVID-19, institutional investors’ investments in logistics facilities continue to grow," adding, "Vestas Asset Management is continuing to expand its logistics center investment portfolio in the U.S. following Europe recently."

This content was produced with the assistance of AI translation services.