Bayerische Landesbank is supporting Nuveen Real Estate in the refinancing of two logistics portfolios with a total loan volume of around 120 million euros. Nuveen acts as investment and asset manager for a specialised real estate fund launched for a German institutional investor. The funds provided are allocated across properties in established locations in Germany as well as in the Spanish market.
The larger share of the financing, with a volume of around 80 million euros, is allocated to domestic properties. This sub-portfolio consists of five modern logistics properties situated in Germany's top seven logistics regions. The buildings comprise a total lettable area of approximately 86,600 square metres, which was fully let at the time of completion of the deal. The warehouse complexes were built between 2018 and 2024, ensuring that the building fabric meets current standards for logistics operations and energy efficiency.
Expansion of the pan-European logistics strategy
Subsequently, the Munich-based credit institution provided a further credit facility of around 40 million euros to the same institutional specialised fund. This second package comprises three distribution properties in the Spanish economic region of Barcelona. The properties concerned feature a combined lettable area of approximately 70,000 square metres and were completed or comprehensively modernised as recently as 2023.
The properties near Barcelona are almost fully let and hold certifications under the BREEAM sustainability standard. In addition to technical space specifications, the assets support the pan-European focus of the fund, which deliberately targets high-quality logistics infrastructure at central European transport hubs.
- —Financing volume Germany: around 80 million euros for five properties with 86,600 square metres of lettable area
- —Financing volume Spain: around 40 million euros for three properties with approximately 70,000 square metres of lettable area
- —Completion periods: buildings from 2018 to 2024 in Germany, as well as completion and modernisation in 2023 in Spain
- —Sustainability criteria: BREEAM certifications and modern specifications alongside a high occupancy rate
With these two transactions, BayernLB consolidates its position in structuring commercial real estate loans in the logistics sector. At the same time, the bank deepens its long-standing collaboration with Nuveen Real Estate, which is also intended to serve as the basis for future joint ventures in the European commercial property market.
