Being the first logistics asset acquired for the Fund, Logport's Grade-A quality, strong location, large lot size and tenant-covenant strength make it an exciting addition to our portfolio and should enhance returns and diversification for our investors.

— Liz Sworn, Fund Manager, Real Estate, Europe

Logport distribution centre acts as the tenant’s European hub for servicing its e-commerce business, situated in the logistical hotspot between the Netherlands’ main ports and Germany. It has good multimodal connections via water, rail and road, ensuring optimum accessibility. An additional c. 43,000 sq m of space was acquired in July 2019, (“Phase 3”), which is let to an international food retailer, the same occupier of Phases 1 and 2. Logport is a high-quality, newly constructed property to provide flexible units, which have achieved a BREEAM "Outstanding" rating.

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Logport Distribution Centre
Sego Lily, GCREIT holding
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The European properties listed are owned by European Cities Fund (ECF), in which Nuveen Global Cities REIT (REIT) has invested $75 million as of 30 June 2022. ECF has $1.8 billion in gross asset value as of 30 June 2022 excluding forward commitments. The REIT does not charge investors for management of this commitment. Investors indirectly pay the underlying management fee of ECF, on the amount of their commitment to the fund, which is lower than the REIT’s management fee. The REIT will not have direct control over ECF and therefore a part of the REIT’s performance will be affected by decisions made by ECF.

These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.