Key Takeaways
- • Nuveen Real Estate's European Cities strategy completed three acquisitions across Spain and France, advancing its sector diversification objectives.
- • The deals comprise two build-to-rent (BTR) assets in Madrid and Tarragona totaling 265 units across roughly 20,000 square meters (215,278 square feet).
- • A purpose-built student accommodation (PBSA) and co-living asset in Paris's Batignolles neighborhood adds 100 fully furnished studio units.
- • All three assets were 100 percent occupied at acquisition.
- • Living sector exposure in the strategy rises to approximately 6 percent of the portfolio, with further growth targeted.
Summary
Nuveen Real Estate's European Cities strategy has completed three acquisitions across Spain and France, according to Institutional Real Estate, Inc. The transactions mark a significant step in the strategy's diversification objectives, which are underpinned by structural megatrends shaping European real estate.
The Spanish acquisitions consist of two high-quality build-to-rent assets located in Madrid and Tarragona. Together they total 265 units across approximately 20,000 square meters (215,278 square feet). The French acquisition is a purpose-built student accommodation and co-living asset in the Batignolles neighborhood of Paris, comprising 100 fully furnished studio units. All three assets were 100 percent occupied at the time of acquisition.
The acquisitions form a core part of the strategy's business plan, which targets an increased allocation to the living sector as part of broader portfolio sector diversification. Following these transactions, the strategy's living sector exposure stands at approximately 6 percent of the portfolio, and further growth in the segment is targeted.
The source article was truncated before providing further details on deal pricing, counterparties, or the timing of the transactions.
The Spanish acquisitions consist of two high-quality build-to-rent assets located in Madrid and Tarragona. Together they total 265 units across approximately 20,000 square meters (215,278 square feet). The French acquisition is a purpose-built student accommodation and co-living asset in the Batignolles neighborhood of Paris, comprising 100 fully furnished studio units. All three assets were 100 percent occupied at the time of acquisition.
The acquisitions form a core part of the strategy's business plan, which targets an increased allocation to the living sector as part of broader portfolio sector diversification. Following these transactions, the strategy's living sector exposure stands at approximately 6 percent of the portfolio, and further growth in the segment is targeted.
The source article was truncated before providing further details on deal pricing, counterparties, or the timing of the transactions.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.