The fund has invested €40m to buy the third phase of the logistics hub in Venlo. : Nuveen Real Estate, on behalf of its European cities fund, has invested €40m to buy the third phase of a Dutch logistics development, having acquired the first two phases last year. The fund is buying the 43,416sqm Phase III of the fully-leased logistics hub in Venlo, the Netherlands. The Phase III asset is being developed by Next Level Development. The first unit was built in November 2017, while the second phase completed in July 2018.