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TH Real Estate acquires multifamily asset in Silicon Valley | News

Villas on the Boulevard, California

TH Real Estate has acquired Villas on the Boulevard, a multifamily community located in Santa Clara, California.

The purchase price remains undisclosed. The asset is a Class-A, newly constructed mid-rise multifamily community located in the epicenter of the tech industry, with high walkability to retail and dining options scattered along the El Camino Real commercial corridor. Area lifestyle centers and entertainment options include Santana Row, Murphy Avenue in downtown Sunnyvale, Castro Street in downtown Mountain View, and the new Sunnyvale Town Center redevelopment. Constructed in 2017, Villas on the Boulevard comprises 186 residential units and offers luxurious interior finish and high-quality community amenities.

"With close proximity to local transportation hubs, Villas on the Boulevard provides residents access to entertainment and cultural centers throughout the region, including highly-regarded employers within minutes of the property," said Terry Senger, Senior Director at TH Real Estate, Americas. "Located strategically in the heart of Silicon Valley, the asset offers a unique and compelling investment that aligns with both current and long-term technology trends."

TH Real Estate manages approximately $10 billion of multifamily housing assets globally, focusing on rental housing investments in demand-driven markets. TH Real Estate's US multifamily housing investment platform serves numerous funds and mandates and has 32,000 units in urban luxury, workforce and student housing assets under management.

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Note: TH Real Estate renamed to Nuveen Real Estate in January 2019.
TH Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). TH Real Estate securities products distributed in North America are advised by UK regulated subsidiaries or Nuveen Alternatives Advisors, LLC, a registered investment advisor and wholly owned subsidiary of TIAA, and distributed by Nuveen Securities, LLC, member FINRA. Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. Please note 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. This material is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor's objectives and circumstances and in consultation with his or her advisors.