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TH Real Estate acquires recently built logistics centre in the north of Germany
TH Real Estate has acquired a new logistics centre in Bremen, in the north of Germany, on behalf of one of its logistics strategies.
The asset was sold by a local property developer, for an undisclosed sum. Located in one of Bremen's most important logistics hubs, the distribution and logistics centre has a gross lettable area of c.110,868 sq ft (c.10,300 sq m) and is fully let to an international automotive supplier.
Via nearby ports in Bremen and Bremerhaven, as well as two motorway junctions, the asset is well connected to the inner city and the north western metropolitan region, providing good access to its catchment area of around 11 million people.
Thorsten Kiel, Head of Logistics, Europe, at TH Real Estate, says: “This new logistics centre is the third logistics asset we have acquired in the past six months. The location of the asset and the limited supply within this area, matched with its high-quality, make it ideally suited for our investment strategy. Bremen's business park Hansalinie is well known as a prime logistics area and the demand for logistics space in this area is high in the automotive sector."
In Europe, TH Real Estate manages a logistics portfolio totalling €2.4 billion. This logistics strategy was launched in May 2017 and is aimed at German institutional investors. With €300 million of firepower, it is a core strategy investing in new build and existing schemes in attractive logistics locations across Germany.
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Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. The value of investments and any income will fluctuate (this may be partly be the result of exchange rate fluctuation) and investors may not get back the full amount invested. Where opinions have been expressed, they are based on current market conditions and are subject to change without notice. TH Real Estate is an investment affiliate of Nuveen, the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). TH Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisers LLC,, a registered investment advisor and wholly owned subsidiary of TIAA and distributed by Nuveen Securities, LLC, member FINRA. Real estate investments are subject to various risks, including fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability.
