Nuveen Real Estate has added an additional €45 million ($53 million) to its European logistics platform from German institutional investors, bringing the sixth European logistics strategy to nearly €350 million ($413 million).
The majority of the investors had previously invested in Nuveen’s logistics platform.
The firm has now allocated a third of its target gross asset value across assets in the Netherlands, Germany, Italy, Spain and France.
The strategy is targeting high-quality, modern logistics properties that are suited to all industrial uses, as well as last-mile, inner-city distribution centers.
“We continue to firmly believe in the sector given the ongoing strong interest from investors in Europe looking to capitalize on the increased need for logistics properties across the continent, which has only been exacerbated by the pandemic,” said Thorsten Kiel, head of European logistics for Nuveen. “Looking ahead, we anticipate seeing fierc
