Nuveen raises more capital to target European logistics

[Image: Adrian Sulyok/Unsplash.]

Nuveen Real Estate has raised a further €45 million for its European logistics platform. The firm’s sixth European logistics strategy, it has now raised nearly €350 million and has allocated a third of its target GAV across assets in the Netherlands, Germany, Italy, Spain and France.

The latest capital has been raised from a number of German institutional investors, most of whom have invested into Nuveen Real Estate’s logistics platform previously.

The strategy is focusing on creating a diversified portfolio of assets across core countries, including Germany, France, Spain, Italy and the Netherlands, as well as additional European locations. It is targeting high quality, modern logistics properties that are suited to all industrial uses, as well as last mile distribution centres in inner cities.

 “Looking ahead, we anticipate seeing fierce competition for best-in-class industrial properties across Europe and we believe that this increased level of capital and strong track record in managing logistics assets should best position us to seize these opportunities,” Thorsten Kiel, head of European logistics for Nuveen Real Estate commented:

Nuveen’s European has industrial AUM of  €3.7 billion, including both equity and debt.

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