Warburg Pincus and Oxford Properties-backed Australian logistics developer Hale has secured a A$205m (€118m) senior loan from Nuveen for a multi-storey logistics project in Rosehill, Western Sydney.
The 49,173sqm net lettable area multi-storey logistics facility, currently under construction, is expected to be completed by mid-2026.
David Chan, senior director for Australia and New Zealand debt at Nuveen, who was responsible for originating and closing the debt deal, said: “The Sydney logistics market remains very tight, and this is even more pronounced within inner-city infill locations due to strong tenant demand and low competing supply.”
The loan investment falls under Nuveen’s real estate debt strategy, which makes core loans and core-plus loan investments to institutional borrowers with security over prime assets in preferred sectors.
Dugald Marr, head of debt, Australia at Nuveen Real Estate said: “Nuveen made its first commercial real estate debt investment over 90 years ago and has since built a real estate debt platform with over US$44bn (€39bn) AUM.”
A spokesperson for Hale said: “We look forward to exploring further opportunities with Nuveen, as we continue to grow our business investments across core-plus, value-added and development strategies.”
To read the latest IPE Real Assets magazine click here.
