Warburg Pincus and Oxford Properties-backed Australian logistics developer Hale has secured a A$205m (β¬118m) senior loan from for a multi-storey logistics project in Rosehill, Western Sydney.
The 49,173sqm net lettable area multi-storey logistics facility, currently under construction, is expected to be completed by mid-2026.
David Chan, senior director for Australia and New Zealand debt at Nuveen, who was responsible for originating and closing the debt deal, said: βThe Sydney logistics market remains very tight, and this is even more pronounced within inner-city infill locations due to strong tenant demand and low competing supply.β
The loan investment falls under Nuveenβs real estate debt strategy, which makes core loans and core-plus loan investments to institutional borrowers with security over prime assets in preferred sectors.
Dugald Marr, head of debt, Australia at Nuveen Real Estate said: βNuveen made its first commercial real estate debt investment over 90 years ago and has since built a real estate debt platform with over US$44bn (β¬39bn) AUM.β
A spokesperson for Hale said: βWe look forward to exploring further opportunities with Nuveen, as we continue to grow our business investments across core-plus, value-added and development strategies.β
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