Nuveen Real Estate’s European Cities strategy has completed three acquisitions across Spain and France, marking a significant step in its diversification objectives, underpinned by the structural megatrends shaping European real estate.
The acquisitions comprise two high-quality build-to-rent (BTR) assets in Madrid and Tarragona, Spain, totaling 265 units across approximately 20,000 square meters (215,278 square feet), and a purpose-built student accommodation (PBSA) and co-living asset in the prestigious Batignolles neighborhood of Paris, comprising 100 fully furnished studio units. All three assets are 100 percent occupied at acquisition.
The acquisitions form a core part of the strategy’s business plan, which targets increased allocation to the living sector as part of wider portfolio sector diversification. These transactions bring the strategy’s exposure to the living sector to approximately 6 percent of the portfolio, with further growth targeted. The Batig
