Nuveen Real Estate’s European Cities strategy has made three acquisitions across France and Spain in a move to tap into structural megatrends shaping European real estate.
The purchases comprise two build-to-rent assets in the Spanish cities of Madrid and Tarragona, and a purpose-built student and co-living buliding in the Batignolles neighbourhood of Paris.
All three assets were 100% occupied at acquisition, Nuveen said in a statement.
The move brings the strategy’s exposure to the living sector to approximately 6% of the portfolio, the company said, adding that the Batignolles purchase re-established the strategy’s presence in France for the first time since 2021.
“These acquisitions are not isolated transactions — they are a deliberate positioning of the portfolio in line with where we see the most compelling long-term structural demand,” said Andy Rich, fund manager for the European Cities strategy. “Increasing our allocation to the living sector, in cities with strong demographic and economic fundamentals, is central to our strategy going forward.”
Angela Goodings, head of research, Europe at Nuveen Real Estate, said: “Madrid remains one of the hottest residential markets in Europe. Strong economic performance is drawing large numbers of people to the city while the affordability of home ownership has decreased creating greater rental demand. The low level of market regulation encourages investors to add to the housing stock.”
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