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Real estate demands hands-on management
When portfolio managers deal in stocks or bonds, their primary responsibility is buying and selling the security. But as real estate investors, our responsibility reaches far beyond those two book ends.
Investing in tangible assets entails, not only the buy and sell, but also maintaining the physical asset, making improvements to enhance returns and ensuring high-quality, long-term tenant relationships.
Nuveen’s real estate team is composed of more than 600 professionals, allowing us to capture opportunity throughout the investment life cycle.
This hands-on management requires large teams on the ground around the world. Nuveen’s real estate team is composed of more than 600 professionals, allowing us to capture opportunity throughout the investment life cycle.
Acquisition and financing
We start with city selection, evaluating the most promising locations by assessing factors such as scale, supply, liquidity, workforce dynamics, demographics, livability and climate risks.
Boots on the ground acquisitions teams put this research into action, as they source properties using long-term relationships with sellers, agents, lenders and tenants. These teams work in a sector-specialist model, providing best-in-class sourcing, underwriting, analysis and due diligence. They also leverage the firm’s extensive scale to identify the most efficient financing sources and structure.
Portfolio management teams make the ultimate acquisition and management decisions, based on fund objectives. Every potential acquisition is separately reviewed by Nuveen’s real estate investment committee.
Nuveen’s asset management professionals lead the property management, leasing and development teams to ensure that each property is best positioned to generate the target returns.
Development and construction management:
In some cases, we may execute ground-up development and redevelopment projects. We can seamlessly manage every step of the development and construction process, including cost budgeting, value engineering, contract negotiations, general and subcontractor supervision and overall project management.
Nuveen strives to maintain and enhance property values, using local property managers to address tenant concerns, manage ongoing building projects and monitor building conditions. Thoughtful decision-making, swift responses to tenant issues and strong working relationships with tenants, vendors and local authorities are essential to retaining asset value.
Our asset management team maintains successful broker and tenant relationships, both globally and locally, and carefully monitors the leasing market to ensure that we maximize tenant retention, rents and exposure to prospective tenants.
Each real estate investment has a thoughtful exit strategy from the time of acquisition. The holding period depends on the investment profile, but may range from 5 to 20 years and is evaluated annually through a hold-versus-sell analysis. When an asset is sold, our portfolio managers work to achieve top market pricing and optimized returns.
In this issue
The views and opinions expressed are for informational and educational purposes only as of the date of production/writing and may change without notice at any time based on numerous factors, such as market or other conditions, legal and regulatory developments, additional risks and uncertainties and may not come to pass. This material may contain “forward-looking” information that is not purely historical in nature. Such information may include, among other things, projections, forecasts, estimates of market returns, and proposed or expected portfolio composition. Any changes to assumptions that may have been made in preparing this material could have a material impact on the information presented herein by way of example. Past performance is no guarantee of future results. Investing involves risk; principal loss is possible.
All information has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such. For term definitions and index descriptions, please access the glossary on nuveen.com. Please note, it is not possible to invest directly in an index.
A word on risk
Real estate investments are subject to various risks, including fluctuations in property values, higher expenses or lower income than expected, and potential environmental problems and liability. Please consider all risks carefully prior to investing in any particular strategy. A portfolio’s concentration in the real estate sector makes it subject to greater risk and volatility than other portfolios that are more diversified and its value may be substantially affected by economic events in the real estate industry. International investing involves risks, including risks related to foreign currency, limited liquidity particularly where the underlying asset comprises real estate, less government regulation in some jurisdictions, and the possibility of substantial volatility due to adverse political, economic or other developments.
Nuveen provides investment advisory services through its investment specialists.