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Nuveen Real Estate’s European logistics platform acquires a distribution centre in Germany for over €60 million
Nuveen Real Estate, one of the world’s largest investment managers, has acquired a prime distribution centre in the Kamp-Lintfort area of Germany on behalf of its European logistics platform for in excess of €60 million.
The industrial asset comprises c. 63,000 sq m (c. 678,000 sq ft) across five units, all tenanted on a long-term lease to a leading omni-channel retailer.
Located next to the intersections of the A57 and A52 motorways at Kamp-Lintfort, the property also benefits from close proximity to the world’s biggest inland port at Duisburg and the Rhine-Ruhr, which is Germany’s largest metropolitan area with over 10 million inhabitants.
Thorsten Kiel, Head of European Logistics at Nuveen Real Estate, commented: "Demand for high-quality industrial assets in prime locations across Europe remains strong. The firm’s latest acquisition at Kamp-Lintfort benefits from an excellent location, close to some of Europe’s busiest ports while also allowing access to a very densely populated area, and a strong tenant covenant with a reputable brand.”
“Throughout 2020, Nuveen’s European logistics platform has already invested around €250 million in industrial assets, with a further €250 million currently in due diligence or already under construction, reaffirming its commitment to the sector across Europe. Looking ahead, demand for industrial assets is only expected to increase, so we will continue to identify good opportunities to ensure we are providing strong returns for our investors.”
Nuveen Real Estate was advised by EY (tax), GSK (legal), Orange recon GmbH (technical), Nova Ambiente (environmental) and LCEE GmbH (sustainability).
The seller was advised by Eastdil Secured and Clifford Chance.
The industrial asset comprises c. 63,000 sq m (c. 678,000 sq ft) across five units, all tenanted on a long-term lease to a leading omni-channel retailer.
Located next to the intersections of the A57 and A52 motorways at Kamp-Lintfort, the property also benefits from close proximity to the world’s biggest inland port at Duisburg and the Rhine-Ruhr, which is Germany’s largest metropolitan area with over 10 million inhabitants.
Thorsten Kiel, Head of European Logistics at Nuveen Real Estate, commented: "Demand for high-quality industrial assets in prime locations across Europe remains strong. The firm’s latest acquisition at Kamp-Lintfort benefits from an excellent location, close to some of Europe’s busiest ports while also allowing access to a very densely populated area, and a strong tenant covenant with a reputable brand.”
“Throughout 2020, Nuveen’s European logistics platform has already invested around €250 million in industrial assets, with a further €250 million currently in due diligence or already under construction, reaffirming its commitment to the sector across Europe. Looking ahead, demand for industrial assets is only expected to increase, so we will continue to identify good opportunities to ensure we are providing strong returns for our investors.”
Nuveen Real Estate was advised by EY (tax), GSK (legal), Orange recon GmbH (technical), Nova Ambiente (environmental) and LCEE GmbH (sustainability).
The seller was advised by Eastdil Secured and Clifford Chance.
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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.
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.
