Nuveen’s European Cities Fund collects another €130m

Three European pension funds have invested €130 million ($141 million) in the Nuveen Real Estate’s European cities fund, news sources say.

According to Nuveen, the fund targets assets in European cities that the firm determines to be best positioned for demographic and structural growth. Last October, the fund paid €40 million ($43 million) for the third phase of a logistics hub in Venlo, The Netherlands.

Launched in March 2016, the European Cities Platform had assembled a €1.9 billion ($2 billion) portfolio of 11 assets, including two more under development, as of October 2019, according to Nuveen.

Regarding the latest commitments to the platform, two of the three European investors are reportedly expanding their current commitments to the fund.