Herbert Smith Freehills Kramer advises Nuveen on acquisition of logistics property in Sydney

Herbert Smith Freehills Kramer (HSF Kramer) has advised global investment manager Nuveen on its acquisition of a logistics asset in Sydney.

The property, at Prestons in Sydney’s southwest, was completed in 2024 and comprises an almost 22,500 square metre warehouse with two tenancies. 

Nuveen manages US$1.4 trillion in public and private assets for clients around the world, and on behalf of its parent company Teachers Insurance and Annuity Association of America (TIAA), one of the world’s largest institutional investors.

The acquisition comes as part of Nuveen’s Asia Pacific Cities strategy, where the organisation targets assets in Asia Pacific cities it believes are best positioned for demographic and structural growth, focusing on investments in office, retail, industrial/logistics, and residential markets with structural performance drivers