U.S. Nuveen RE buys French logistics assets for $152.4 mln

U.S. real estate (RE) investment management firm Nuveen Real Estate has completed the purchase of three prime logistics assets in France.

As part of the deal, Nuveen Real Estate acquired a 10,000 square meters (sqm) logistics hub located 30 Kilometers south of Paris in the Essonne, a 49,000sqm asset in Port-Saint-Louis du Rhône and an 87,000sqm asset in Valence.

The company, a unit of Teachers Insurance and Annuity Association of America, paid 135 million euros ($152.4 million) to an unidentified seller to buy the three fully-let assets in France on behalf of one of its European logistics vehicles.

The latest acquisition boosts Nuveen Real Estate's logistics assets under management in France to approximately $225.8 million.