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Nuveen Real Estate acquires logistics centre in Bremen on behalf of its European logistics platform
Nuveen Real Estate has acquired a logistics centre in the southern metropolitan region of Bremen for its European logistics platform.
The purchase price of the property, with a total lettable area of around 19,000 sq m, is circa €20.8 million.
The DGNB Gold certified new building is divided between circa 16,000 sq m of storage space, 850 sq m of office space and 2,600 sq m for lateral un- and uploading of trucks (tunnel loading space) including 90 parking and 28 bicycle spaces.
The flexible floor plan allows for division into two rental units and has ample parking and space for trucks and cars. The property is leased on a long-term basis to a German automotive supplier for use as a logistics and production centre.
Christian Sliwa, Investment Manager Logistics at Nuveen Real Estate, comments: “The asset is well positioned in terms of both its location and quality: the high-performing and flexible infrastructure in combination with reliable demand from the retail and industrial sectors, and also the large future potential of workforce, make the Bremen area an attractive and suitable location for various logistics tasks.”
Tim Hennes, Fund Manager at Nuveen Real Estate, adds: “With its location in the industrial area Hansalinie, the asset is situated in one of the most important distribution areas in Bremen. The site is specifically designed to supply the production of Daimler, which is reflected in the fact that more than a quarter of the logistics space is used for that purpose.
“Irrespective of the current tenant, the centre has been built flexibly, so that it could also be used by automotive suppliers or for standard logistics functions in the future. The transaction is thus in line with our European strategy to identify core assets in key European markets, primarily Germany, France, the Netherlands and Spain.”
Nuveen was advised on the transaction by Linklaters (law), Ernst & Young (taxes), Duff & Phelps (technology), Nova Ambiente (environment), Robert C. Spiels (broker) and Fraunhofer SCS (research). The lender is DZ Hyp Bank. The seller was advised by Peper & Söhne.
Nuveen Real Estate is one of the largest investment managers in the world with $129 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.
With over 80 years of real estate investing experience and more than 600 employees* located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
For further information, please visit us at nuveen.com/realestate
The purchase price of the property, with a total lettable area of around 19,000 sq m, is circa €20.8 million.
The DGNB Gold certified new building is divided between circa 16,000 sq m of storage space, 850 sq m of office space and 2,600 sq m for lateral un- and uploading of trucks (tunnel loading space) including 90 parking and 28 bicycle spaces.
The flexible floor plan allows for division into two rental units and has ample parking and space for trucks and cars. The property is leased on a long-term basis to a German automotive supplier for use as a logistics and production centre.
Christian Sliwa, Investment Manager Logistics at Nuveen Real Estate, comments: “The asset is well positioned in terms of both its location and quality: the high-performing and flexible infrastructure in combination with reliable demand from the retail and industrial sectors, and also the large future potential of workforce, make the Bremen area an attractive and suitable location for various logistics tasks.”
Tim Hennes, Fund Manager at Nuveen Real Estate, adds: “With its location in the industrial area Hansalinie, the asset is situated in one of the most important distribution areas in Bremen. The site is specifically designed to supply the production of Daimler, which is reflected in the fact that more than a quarter of the logistics space is used for that purpose.
“Irrespective of the current tenant, the centre has been built flexibly, so that it could also be used by automotive suppliers or for standard logistics functions in the future. The transaction is thus in line with our European strategy to identify core assets in key European markets, primarily Germany, France, the Netherlands and Spain.”
Nuveen was advised on the transaction by Linklaters (law), Ernst & Young (taxes), Duff & Phelps (technology), Nova Ambiente (environment), Robert C. Spiels (broker) and Fraunhofer SCS (research). The lender is DZ Hyp Bank. The seller was advised by Peper & Söhne.
About Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $129 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.
With over 80 years of real estate investing experience and more than 600 employees* located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
For further information, please visit us at nuveen.com/realestate
*Includes 314 real estate investment professionals, supported by a further 290+ Nuveen employees.
Source: Nuveen, 30 September 2019.
Notes to Editors
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.
Source: Nuveen, 30 September 2019.
Notes to Editors
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.
