Nuveen Real Estate, one of the largest global real estate investment managers, has significantly expanded its US industrial platform through the acquisition of a major national logistics portfolio exceeding 100 properties across 12 markets. The total value of the portfolio is approximately $3 billion and is comprised of urban infill, light industrial and bulk logistics assets.
“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,” said Graydon Bouchillon, Managing Director and Head of U.S. Industrial Sector at Nuveen Real Estate.
The portfolio is comprised of nearly 29 million square feet of logistics space with focused concentrations in Southern California, Northern New Jersey, Dallas, Chicago, Baltimore and Washington D.C. markets. The portfolio was acquired from Blackstone. Eastdil Secured served as advisor to Blackstone.
“We continue to believe that the industrial sector will outperform as supply remains constrained in certain markets and e-commerce tailwinds remain prevalent,” added Bouchillon. “Our 80 million square foot US 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.”
Nuveen Real Estate has been investing in the industrial sector since 1953 and currently manages approximately $17.2 billion of logistics properties globally. The firm’s U.S. industrial holdings now approximate $15 billion across both equity and debt investments in the sector.
Nuveen Real Estate
Nuveen Real Estate is one of the largest investment managers in the world with $130 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.
With over 80 years of real estate investing experience and more than 600 employees* located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.
For further information, please visit us at nuveen.com/realestate
*Includes 314 real estate investment professionals, supported by a further 290+ Nuveen employees.
Source: Nuveen, 30 June 2019.
Notes to Editors
Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors LLC a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA and SIPC.