Nuveen Real Estate’s European logistics platform has made its first Danish logistics investment with the acquisition of a €33m property in Horsens.

The manager said its European Core Plus Logistics strategy has acquired the newly constructed logistics asset in Horsens.

The asset comprises 33,000sqm of warehouse space spread across three equally sized units. Construction of the asset was completed in early 2024 and is available for lease, Nuveen said.  

Magnus Kenning, senior director at Nuveen Real Estate, said: “This transaction benefited from a number of market fundamentals with Denmark being the most densely populated Nordic country, and the asset itself is strategically located in a well-established logistics park surrounded by well-known tenants and institutional owners.

“Now that we have closed on the transaction, we are focused on executing our business plan by letting up the vacancy and finalising the building’s DGNB sustainability certification, as well as reviewing further opportunities to expand our Nordic portfolio.”

James Ellis, fund manager at Nuveen Real Estate, said: “This transaction demonstrates our ability to identify attractive core-plus investment opportunities in established distribution locations as clients continue to look for strong risk-adjusted returns outside of core strategies.

“Moreover, the acquisition is a prime opportunity to build on an already strong track record as a core-plus investor as we continue to expand the portfolio for this strategy.”

The Nuveen Real Estate European Core Plus Logistics strategy, launched in 2022, targets core-plus investments in both standing and development assets.

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