Nuveen Real Estate Buys 100 New Properties in 12 Markets

October 9, 2019 | News, Real Estate
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The deal expands the firm’s reach across 12 markets

Nuveen Real Estate is one of the largest real estate investment firms in the world, and they keep getting bigger.

As part of their continued expansion, they are moving aggressively into industrial real estate in the United States. Nuveen announced this week that they are acquiring a significant national logistics portfolio exceeding 100 properties across 12 markets.

Latest Nuveen Real Estate Deal

The total value of the portfolio is approximately $3 billion.

The portfolio is primarily urban infill, light industrial, and bulk logistics assets.

Graydon Bouchillon, Managing Director and Head of U.S. Industrial Sector at Nuveen Real Estate, issued a statement on the deal.

“This pivotal transaction provides an attractive opportunity to further enhance Nuveen Real Estate’s U.S. industrial platform and broaden our logistics holdings across strategic distribution hubs including coastal markets with high barriers to entry,” Bouchillon said.

He further added, “We continue to believe that the industrial sector will outperform as supply remains constrained in certain markets and e-commerce tailwinds remain prevalent. Our 80 million square foot U.S. industrial platform will continue to look for measured, strategic growth opportunities in an effort to provide Nuveen investors with broad diversification and exposure across the logistics landscape.”

Finally, the properties are concentrated in Southern California, Northern New Jersey, Dallas, Chicago, Baltimore, and Washington D.C. markets. All told, the deal includes 29 million square feet of logistics space. Furthermore, the acquisition brings Nuveen total U.S. logistics portfolio up to now approximate $15 billion. This figure expands across both equity and debt investments in the sector.

[Related: Blackstone Group Buys Colony Industrial for $5.9 Billion]

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