Nuveen Real Estate raises over $480M

December 16, 2019
Share this Post: 

Nuveen Real Estate, a real estate investment manager, has secured more than $480 million that it plans to put towards two if its Asian Pacific channels.

Nuveen Real Estate has secured more than $420 million for the Asia Pacific Cities platform from eight European investors, and another $60 million for its China Outlet Mall Fund to close the vehicle at $630 million.

PERENews has sent an email to Nuveen Real Estate and will update this article upon receiving responses.

Nuveen Real Estate’s Asia Pacific Cities platform would probably receive additional significant commitment before the end of this year, PERENews reported, adding that the vehicle is expected to generate a return of 7-10 percent per annum after tax and before fees.

The $2-billion mandate, which was launched in 2018, received an initial co-investment of $200 million from its parent organisation, Teachers Insurance and Annuity Association of America (TIAA), according to the fund’s establishment announcement.

It has recently acquired a 50 percent stake of Odawara Logistics in Greater Tokyo for $230 million, according to PERENews.

The transaction followed the platform’s first acquisition of an office asset in Sydney in late 2018 and a logistics property in Seoul in August this year.

With the latest purchase, it is understood that the vehicle has deployed more than half the capital raised and is reportedly planning its new investment in a multifamily portfolio in early 2020.

Read more here

Join us February 26-27 for the Property Portal Watch Conference Bangkok 2020.

Property Portal Watch Bangkok Conference, 2020

December 16, 2019

Subscribe to our mailing list to get the famous, free Friday newsletter!

News and analysis to help build better online marketplace businesses, in your inbox, every Friday

Related News

Shutterstock 147091049
Housing.com To Hire 200 People In Market Leadership Push

Housing.com will hire up to 200 staff in fiscal year 2023 as it aims to establish itself as India's leading...

Read More
Propertyguru For Business Skyline Singapore
'Guided by Guru' - PropertyGuru Outlines New Brand Positioning

The Southeast Asian real estate portal operator PropertyGuru has announced a 'brand repositioning' and has introduced a new umbrella brand...

Read More
Shutterstock 1958725735
Spotahome Tells Staff That It Expects Another Round of Layoffs

Madrid-based on-demand rentals specialist Spotahome has announced it will go through another round of layoffs, weeks after firing two senior...

Read More
Homely And Ptg Skyline
Aussie Portal Homely Integrates with Proptech Group's VaultRE and Eagle CRMs

Australian challenger portal Homely.com.au says it will be easier than ever for agents to list in more places after announcing...

Read More

Editor's Pick