Important Information
This site has been created for exclusive use by institutional investors only and does not take into account investment objectives, financial situation or specific needs of any individual investor. Information should not be the sole basis for any investment decision.
If you are not an institutional client, consultant or financial professional and are looking for more information about mutual funds and other products at Nuveen, please visit our site at www.nuveen.com.
Past performance is not a guarantee of future performance. All investments involve some degree of risk including loss of principal. Investment objectives may not be met.
By agreeing you are confirming you are being truthful, acknowledging you have read the information above and accept the terms and conditions set out with this site and meeting the intended audience requirement for this site. Not all content on this site is appropriate or applicable for the general public and we cannot guarantee consequences with the use of this information by unauthorized or unintended users. Content on this site may not be redistributed and is for informational purposes only and does not constitute investment advice or provide a solicitation of an offer to buy any security.
Nuveen Real Estate continues to bolster logistics platform with latest purchase in Ulm, Germany
The property comprises a total size of c.23,000 sq m (248,000 sq ft) and is currently let to a home and garden products wholesaler and a transport company on a long-term basis. The asset was acquired from project developer May & Co.
With its convenient location on the A8 Stuttgart-Munich motorway and a neighbouring loading terminal, the area offers ideal conditions for high-performance logistics. The industrial complex has also benefitted from extensive road reconstruction around the site, which has allowed the hub to successfully expand in recent years.
Christian Sliwa, Investment Manager at Nuveen Real Estate, comments: "This property is well located between the two logistics hotspots of Munich and Stuttgart. It is a strategic addition for our portfolio, which consists of other modern industrial properties in established locations. We expect the German logistics sector to continue its positive development. We offer our investors high-quality industrial assets with secure rental income across Europe.”
Stefan Harder, Managing Director of May & Co. Development, adds: "The property distinguishes itself particularly by its ideal location and strong tenant structure. It further meets the high standards of a modern logistics centre. Having successfully developed the new building, we are pleased to have found a well-known investor for the further operation of the project in Nuveen Real Estate."
Nuveen Real Estate was advised on the acquisition by EY (tax), GSK STOCKMANN (legal), TeamCon (technology & environment) and Markus Knab E&G (real estate agent).
This press release is intended for trade press only. Please do not redistribute.
Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority.
Nuveen Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services.
Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA.