Nuveen Real Estate has acquired a state-of-the-art logistics distribution centre in Duisburg on behalf of a European special fund. The seller of the property was Hillwood. This acquisition represents the eleventh expansion of Nuveen Real Estate's German portfolio and consolidates the company's position in the Rhine-Ruhr region, one of Europe's leading logistics markets.
The property, developed by Hillwood in 2022 in line with current standards, comprises a logistics area of 28,500 square metres. It is located in the heart of the Rhine-Ruhr metropolitan region, a densely populated and economically significant area. The choice of location near Duisburg Port, the largest inland port worldwide and a crucial hub for the New Silk Road, enables multimodal connectivity. This infrastructure includes road, rail, and waterways via the Rhine, creating an ideal prerequisite for both regional and pan-European distribution strategies.
The property is fully leased to an established e-commerce and logistics service provider (3PL). The parties agreed not to disclose the purchase price.
Strategic Portfolio Development and Sustainability
Dominik Scheidmann, Director Portfolio Management at Nuveen Real Estate, stated that the acquisition underlines the portfolio's strategy to build a high-quality European core portfolio of logistics properties. This portfolio is anchored in established and well-connected markets. He emphasised that the Duisburg property, with its focus on income stability, ESG criteria, and long-term property quality, represents a compelling addition to a portfolio that now includes a variety of properties in Germany, France, the Netherlands, and Spain.
The acquired spaces meet Nuveen's sustainability requirements. The facilities include lighting that is 100% LED-based, a wooden roof structure, and a photovoltaic system. A DGNB Gold certification is also being sought for the property.
Advisory Support for the Transaction
The transaction was supported by several consulting firms. Legal advice was provided by Linklaters, while Nova Ambiente was responsible for environmental consulting. TheGreenBlue assisted with ESG matters and EY with technical consulting. LOGREM was responsible for transaction and property management. Brokerage services were handled by Eastdil.
