Tilburg March 25, 2021 – Nuveen has purchased a distribution center in Weert for one of its logistics funds. The distribution center (18,000 sqm) located at the barge terminal, has a strategic location in the logistics route West Brabant and offers good access to Germany, Belgium and the port of Rotterdam via the north.
The property was purchased on the basis of a sale & leaseback agreement with GVT Group of Logistics and has a term of 10 years. It will be leased to BTT Multimodal Container Solutions, a subsidiary of GVT
The purchase is part of Nuveen’s new European strategy. EUR 300 million was collected from investors for this purpose. A second purchase in the Netherlands will follow later this year.
Nuveen was advised by INDUSTRIAL real estate partners, Houthoff and Malcolm Hollis. The seller was assisted by CMS.