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Nuveen Real Estate’s European logistics platform undertakes c. €1 billion in acquisitions

Rotterdam building

Nuveen Real Estate, one of the world’s largest investment managers, invested c. €500 million through its European logistics platform in the past twelve months. This totalled 18 assets across mainland Europe, with a focus on Germany, Italy, Spain and France.

Further to this, the strategy has also recently agreed a further c. €410 million in logistics acquisitions. The firm now has c. €2.7 billion of industrial assets under management across Europe.

Recent research from the firm suggests that logistics assets in southern European countries will benefit from the shift in economic power to the Far East, as southern shipping ports become more pivotal in importing and exporting goods for the region.

“The large amount of capital we have been able to deploy has shown the continued appetite from investors in this ever-growing asset class,” comments Thorsten Kiel, Head of European Logistics at Nuveen Real Estate “Changes to the way we shop, and outside political and economic factors have meant that investors continue to see logistics as a secure, long-term investment with formerly secondary locations, such as Sevilla, Genoa and Toulouse, now becoming more appealing too.”

“Looking ahead, we intend to transact on a similar volume in 2020, having agreed three acquisitions so far, across what we believe to be core logistics locations as well as looking at new markets where we have yet to invest.”

A recent transaction for the platform was a high-quality c. 48,000 sq m (c. 516,600 sq ft) warehouse near Rotterdam, acquired for c. €47.6 million. The property is in a well-connected location, which will also be further enhanced by the construction of additional motorway, with an intersection planned right next to the logistics hub. The asset is split into two lettable areas, with one currently let to a logistics and transport provider, on a 10-year lease.

“Our acquisition near Rotterdam represents an excellent addition to the platform as we continue to diversify our investments across different locations, which we believe will offer long-term returns for our investors,” adds Kiel.

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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.