Nuveen Real Estate has provided €350m loan to Dutch industrial real estate firm Urban Industrial to finance a 385,000sqm portfolio.
The 10-year senior loan supports Urban Industrial’s portfolio of 55 assets located in the Randstad region.
Caroline Pellmann, senior director, debt at Nuveen Real Estate, said: “This transaction represents an exceptional opportunity to provide capital to a best-in-class operator in one of Europe’s most strategically important industrial markets.
“Urban Industrial’s proven track record of active asset management and the portfolio’s prime locations within the Netherlands’ economic heartland make this an attractive investment and reflects our continued commitment to support great sponsors across key European markets and asset classes.”
Pellmann said the Netherlands continues to benefit from its “strategic position as a European trade hub, supported by world-class infrastructure”, including the Port of Rotterdam and Schiphol Airport.
“These assets are ideally positioned to serve the growing demand for last-mile logistics and urban industrial space.”
Richard Baltus, managing partner at Urban Industrial, said: “In Nuveen we have found a debt partner that shares our long-term views on the Dutch prime infill light industrial market.
“In addition to financing a significant part of our core portfolio, Nuveen is also eager to increase their support to enable us to further grow our portfolio.”
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