Construction has now begun on the new distribution centre, which totals 97,000 sq m (1 million sq ft). Located in one of the most important hubs for e-commerce activities in the Netherlands and Western Europe, the area is known as the Logistics hotspot of Eindhoven. It has good multimodal connections, which ensures efficient and optimal accessibility. Catering to e-commerce tenants requires special designs within logistics buildings, the building has been designed with this in mind.
The Fund's second Logistics investment was acquired in two phases: Phase 1 (c. 60,000 sq m) and Phase 2 (c. 37,000 sq m) in November 2019 and January 2020, respectively.
The property consists of three interlinked warehouses, developed to a high quality, allowing flexible use for either single or multiple users.
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.