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Daishin Asset Management seeks to buy Amazon's logistics center in Poland It is likely to pave way for Daishin Asset Trust's REITs listing

Translated by Kim So-in 공개 2021-10-22 08:19:52

이 기사는 2021년 10월 22일 08:09 더벨 유료페이지에 표출된 기사입니다.

Daishin Financial Group’s Daishin Asset Management will buy Amazon’s logistics center located in Poland in a private deal, as the group aims to pave the way for its planned listing of real estate investment trusts (REITs) through Daishin Asset Trust next year.

Daishin Asset Management and Daishin Asset Trust’s REITs investment business are in discussions to buy the logistics center in Swiebodzin, Poland for around 230 billion won, industry sources said on Tuesday.

They signed a contract in April, with the deal expected to close next month. On-site due diligence has reportedly been conducted earlier this month despite the Covid-19 pandemic.

The property, which is the largest and most advanced among all logistics centers in Germany and Poland, is currently under a long-term lease by Amazon Fulfillment Poland Sp. z o.o.

The 210,200-square-meter logistics center is automated with Amazon Robotics, which is used to help fulfill customer orders. Excluding construction costs, Amazon has additionally invested about 120 billion won in automation facilities, interiors, and fixtures.

“As online shopping increases, automation is becoming a key factor in the competitiveness of logistics centers,” an industry source said. “This is because tenants are looking for the cheapest and most efficient way to deliver parcels.”

The logistics center in Swiebodzin targets the logistics markets in Berlin as it is less than two hours away from the city. Demand for logistics services in Poland is twice that of the Czech Republic or Austria and demand for logistics services in Germany is seven times that of Poland.

Daishin Asset Trust plans to list its REITs next year whose portfolio will have seven properties including Amazon’s logistics center. Daishin Financial Group has secured the portfolio assets in Europe, Tokyo, and the U.S. over the last five years. Daishin Global REITs will likely go public.

A fund created by Daishin Asset Management has already bought 100% of a local entity which owns the logistics center. Daishin Asset Trust’s REITs will buy back the stake back once it is established.

Daishin Asset Trust’s parent Daishin Securities has put efforts into its REITs business. Last year, the securities firm launched Daishin Global REITs real estate fund, which invests in REITs listed on overseas markets like the U.S., Japan, and Singapore, and Daishin Balance REITs fund wrap, which invests in REITs and public offering real estate funds with high dividend payout ratios. (Reporting by Jin-young Ko)
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