Nuveen Real Estate has bought a 15,000sqm logistics asset in the Netherlands from Accres Real Estate.
The real estate manager has invested an undisclosed amount to buy the newly developed asset in Moerdijk currently let to two tenants on five to 10-year leases.
The asset is divided into two units allowing for multiple tenancies if required, Nuveen said.
Daan Van der Veen, investment manager director for Nuveen Real Estate Benelux, said: “It is fantastic to have been able to add another high-quality industrial asset to our growing portfolio in the Netherlands. Its strategic positioning in one the country’s busiest logistics regions, as well as its strong tenant covenants, should help us to provide continued strong returns for our clients.
“Due to the quality of the logistics market in the Netherlands, we will continue to seek new opportunities to add to our portfolio in the region.”
Nuveen Real Estate now has nearly €600m of logistics assets under management in the Netherlands.
To read the digital edition of the latest IPE Real Assets magazine click here.