International law firm Simmons & Simmons has successfully acted for Nuveen Real Estate, a Chicago-based investment manager, on the acquisition of a logistics asset in Kerpen, near Cologne, Germany.
The warehouse, completed in 2024, spans 11,224 sq m (120,800 sq ft) and is fully let to a beverage bottler under a five-year lease. The building is targeting DGNB Gold certification for sustainable construction. The seller was project developer Aconlog. The purchase price was not disclosed.
The Simmons team provided comprehensive legal support, including due diligence, negotiation of the purchase agreement, and lease advisory on the existing tenancy. The team also advised on a rooftop lease agreement for photovoltaic use.
The transaction follows Nuveen’s core European logistics strategy, which focuses on high-quality properties in prime locations.
The Simmons team was led by Boris Strauch-Rötting, partner in our Frankfurt office.
Commenting on the deal, Boris said, “It has been a pleasure to advise Nuveen on their acquisition in Germany – especially as our Simmons tax colleagues in Luxembourg have already supported Nuveen on similar investments. We are very proud that, once again, we were able to demonstrate our real estate expertise with a fantastic team.”
