Nuveen Real Estate’s European logistics platform acquires a distribution center in Germany for over €60m

Nuveen Real Estate, one of the world’s largest investment managers, has acquired a prime distribution center in the Kamp-Lintfort area of Germany on behalf of its European logistics platform for in excess of €60 million ($67 million).

The industrial asset comprises 63,000 square meters (678,000 square feet) 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 more than 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 busie