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Nuveen Real Estate provides financing for Mountpark
Nuveen Real Estate has acted as the arranger of a three-tranche, dual currency loan secured on a four-property, nine-unit portfolio of newly developed logistics assets in the U.K., Ireland and Spain.
Nuveen Real Estate provided the financing to subsidiaries of Mountpark Logistics EU Sarl (“Mountpark”).
The 2.18 million sq ft portfolio includes 1.61 million sq ft completed assets and a further 579,160 sq ft asset under development.
The properties are uniquely well-positioned in the major distribution hubs of Dublin, Madrid, Manchester and Birmingham.
Nuveen Real Estate is actively expanding its reach into select European jurisdictions, including Ireland, Spain and the Netherlands, having historically lent predominately in the U.K. The loan is Nuveen’s first CRE debt investment into the Spanish market and marks its second loan in Ireland this year.
CBRE’s Debt and Structured Finance team, part of CBRE Capital Advisors, advised Mountpark and USAA on the financing.
Christian Janssen, Head of European Debt at Nuveen Real Estate, commented: “We are delighted to have been able to work with Mountpark, USAA and CBRE to provide a flexible and innovative multi-jurisdictional financing solution to Mountpark Logistics. We continue to expand our lending platform across Europe, and this transaction complements our existing core portfolio.”
Vishnu Reddy, Senior Director, Debt and Structured Finance, CBRE commented: “We were pleased to have secured this financing on behalf of Mountpark and USAA. Competition to lend across Europe remains high, particularly in sectors such as logistics where the market fundamentals remain extremely robust. We were delighted that Nuveen Real Estate could provide financing with the flexibility required by our client.”
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
Mountpark Logistics EU Sarl is a joint venture between USAA Realco-Europe Holdco, BV, the Dutch subsidiary of USAA Real Estate and Mountpark Finco Sarl (Mountpark). Mountpark Logistics EU was created to develop logistics facilities across Europe, with particular focus on the U.K. and Western and Central European markets.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Nuveen Real Estate provided the financing to subsidiaries of Mountpark Logistics EU Sarl (“Mountpark”).
The 2.18 million sq ft portfolio includes 1.61 million sq ft completed assets and a further 579,160 sq ft asset under development.
The properties are uniquely well-positioned in the major distribution hubs of Dublin, Madrid, Manchester and Birmingham.
Nuveen Real Estate is actively expanding its reach into select European jurisdictions, including Ireland, Spain and the Netherlands, having historically lent predominately in the U.K. The loan is Nuveen’s first CRE debt investment into the Spanish market and marks its second loan in Ireland this year.
CBRE’s Debt and Structured Finance team, part of CBRE Capital Advisors, advised Mountpark and USAA on the financing.
Christian Janssen, Head of European Debt at Nuveen Real Estate, commented: “We are delighted to have been able to work with Mountpark, USAA and CBRE to provide a flexible and innovative multi-jurisdictional financing solution to Mountpark Logistics. We continue to expand our lending platform across Europe, and this transaction complements our existing core portfolio.”
Vishnu Reddy, Senior Director, Debt and Structured Finance, CBRE commented: “We were pleased to have secured this financing on behalf of Mountpark and USAA. Competition to lend across Europe remains high, particularly in sectors such as logistics where the market fundamentals remain extremely robust. We were delighted that Nuveen Real Estate could provide financing with the flexibility required by our client.”
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
About Mountpark
Mountpark Logistics EU Sarl is a joint venture between USAA Realco-Europe Holdco, BV, the Dutch subsidiary of USAA Real Estate and Mountpark Finco Sarl (Mountpark). Mountpark Logistics EU was created to develop logistics facilities across Europe, with particular focus on the U.K. and Western and Central European markets.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
