Nuveen Real Estate Provides €350 Million Debt Financing for Premium Dutch Light Industrial Portfolio
Ten-Year Senior Loan Supports Urban Industrial's Strategic Portfolio of 55 Assets Across the Netherlands' Prime Randstad Region.
Nuveen Real Estate, one of the world's largest real estate investment managers1 with USD 141 billion in assets under management, today announced it has provided a €350 million senior debt facility to Urban Industrial, supporting a premium portfolio of 55 light industrial assets strategically located across the Netherlands' key economic corridor.
The 10-year, fixed rate term loan, represents a 60% loan to value and is secured by a diversified portfolio of fully operational light industrial properties totaling over 385,000 square meters of lettable area. The assets are concentrated in the highly desirable Randstad region, with properties located in Amsterdam, Rotterdam, and Utrecht regions.
"This transaction represents an exceptional opportunity to provide capital to an established operator in one of Europe's most strategically important industrial markets," said Caroline Pellmann, Senior Director, Debt at Nuveen Real Estate. "Urban Industrial's proven track record of active asset management and the portfolio's prime locations within the Netherlands' economic heartland make this an attractive investment and reflects our continued commitment to support great sponsors across key European markets and asset classes. We enjoyed the collaboration and team work on this transaction and look forward to supporting Urban Industrial growing their platform."
"The Netherlands continues to benefit from its strategic position as a European trade hub, supported by world-class infrastructure including the Port of Rotterdam and Schiphol Airport. These assets are ideally positioned to serve the growing demand for last-mile logistics and urban industrial space."
Richard Baltus, Managing Partner at Urban Industrial, said: “In Nuveen we have found a debt partner that shares our longterm views on the Dutch prime infill light industrial market. In addition to financing a significant part of our core portfolio, Nuveen is also eager to increase their support to enable us to further grow our portfolio.”
Portfolio Highlights
- The financed portfolio demonstrates strong fundamentals with over 98% occupancy across 250+ unique tenants, providing exceptional diversification and stable cash flows. The properties serve a broad range of industries including logistics, B2B retail, automotive, and specialized manufacturing.
- The portfolio targets prime urban infill locations where land is constrained and persistent supply-demand imbalances exist. The Randstad region, home to 8.4 million people, is the fourth-largest metropolitan area in Europe and contributes over half of the total Dutch GDP, making it the second most productive region in the European Union.
- The properties benefit from excellent connectivity to major transportation networks, supporting tenants who require efficient distribution and last-mile delivery capabilities to serve inner-city markets.
Sponsor Strength
Urban Industrial, founded in 2015, has established itself as a leading operator of core light industrial properties in the Netherlands. The company is backed by one of the largest U.S. state pension funds.
The company employs a fully integrated platform with in-house investment, asset, and property management capabilities, maintaining strong tenant relationships through active, hands-on management.
