Nuveen Real Estate has expanded its core European logistics portfolio with acquisitions in Germany and Spain.
The real estate investment manager has acquired a newly constructed 11,224sqm logistics property in Kerpen from Cologne-based project developer Aconlog and a 41,279sqm warehouse in La Bisbal del Penedès, Catalonia.
The property in Colognen is let to a beverage bottler under a five-year lease, and an international pet food company occupies the Catalonia property under a long-term agreement.
Financial details were not disclosed.
Thorsten Kiel, head of industrial and logistics for Europe at Nuveen Real Estate, said: ”These acquisitions underscore our strategy of building a high-quality European logistics portfolio with a focus on modern, sustainable properties in prime locations. Both properties offer exceptional connectivity to major transport networks and are located in dynamic logistics markets with strong regional fundamentals.
“These investments represent excellent opportunities to expand our presence in two of Europe’s most strategic distribution hubs. The properties’ prime locations, high-quality specifications, and long-term leases to creditworthy tenants align perfectly with our core European logistics strategy.”
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