Global investment manager Nuveen has announced the opening of an office in Amsterdam as part of plans to grow its presence in the Netherlands.
The office, led by Tim Horrocks, head of Continental Europe for Nuveen Real Estate, currently offers real estate capabilities, predominantly focusing on the office and logistics markets. Two employees from Westchester, the agricultural investment arm of Nuveen, will relocate to this office in the summer. There are also plans to expand the office remit to include advisory services in the future to enhance Nuveen’s ability to advise and service future and existing clients.
The opening of the office, in the South Axis (Zuidas) of Amsterdam, follows a string of real estate acquisitions across the Dutch market in 2019 and a desire for Nuveen to be better positioned to both manage its existing portfolio and identify new investment opportunities. It follows the opening of Nuveen’s office in Copenhagen, Denmark, last year and complements the firm’s existing Scandinavian presence in Helsinki and Stockholm.
Over the past few years, Nuveen has acquired a number of real estate assets in the Netherlands, with a particular focus on logistics properties due to growing investor demand for the asset class and the country’s excellent position close to major ports and transport links.
In addition to its logistics assets at Venlo, comprising 119,000 m2, and Eindhoven, comprising 97,000 m2, Nuveen Real Estate’s European Cities vehicle also owns The Warehouse, a 6,300 m2 office building located close to Amsterdam city centre and The Haagsche Zwaan in The Hague.
‘During recent years, we have increasingly invested in the Dutch market through our real estate business, so it makes sense that we have our own presence here. Despite what are most likely short-term disruptions, we continue to believe in investing into quality locations that will thrive through cycles. As such, we are currently building a strong team of investment specialists who will provide "boots on the ground" in the Netherlands, allowing us to have closer insights to the market and be able to source the best available investment opportunities,’ commented Horrocks.