Nuveen Real Estate’s European logistics platform has invested €135m to buy three fully-let assets in France.
The manager has bought a 10,000sqm logistics hub located 30km south of Paris in the Essonne, a 49,000sqm asset in Port-Saint-Louis du Rhône and an 87,000sqm asset in Valence.
The latest investment takes Nuveen’s logistics assets under management in France to nearly €200m.
Christel Zordan, head of France for Nuveen Real Estate, said: “Throughout the ongoing health crisis, we have witnessed an increased demand for storage facilities, particularly from e-commerce and grocery retailers, so we are delighted to have added these three Grade-A industrial assets to our growing French portfolio.
“Taking into account their respective strategic locations and quality occupants, we expect to achieve the target rates of return of our investors. Building on this, we are continuing to look for new opportunities in the logistics market in France.”
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