Insights

Our approach is focused on cities we believe are best positioned to benefit from global megatrends

City at sunset
 
Informed by over 85 years of real estate experience, our approach centers on three core beliefs:
  1. Global megatrends are key drivers of long-term real estate values.
  2. A cities-focused strategy can identify real estate locations best positioned for demographic and structural growth.
  3. Local expertise and ability to execute – together with global insights – are critical to portfolio implementation.

Sector Allocation

Nuveen Global Cities REIT allocates across core private real estate sectors. While diversified across sectors, the team is currently focused on the most dynamic segments of the market: industrial, housing, and alternative real estate. We believe that a number of themes will drive long-term outperformance in these property types. Below are three examples of themes that drive our allocation.

Sector strategy built on megatrends
Illustration of chess pieces
Insights Industrial power
During the past decade, warehouse facilities have experienced growing demand because they serve multiple purposes in the modern, digital economy. We see potential for continued strength in this sector due to continued e-commerce sales growth, rerouting of goods as global production shifts to new locations, warehousing demand for construction and building materials in the Sun Belt, and the repatriation of manufacturing.
Nashville at night
Insights Migration to the Sun Belt
In the U.S. the trend toward the Sun Belt cities has long been in place, but the pace was accelerated by COVID-19. This shift will have implications for real estate values in many sectors, including housing, office, industrial and technology centers.
Telehealth and healthcare
Insights Health care transformation
We see potential for growth in alternative sectors, including life science facilities focused on medical research and medical offices where patients seek outpatient care. We believe more care will be delivered outside of hospitals in cost-effective settings such as medical offices and, in particular, in medical offices that offer higher acuity services that cannot be delivered via telemedicine.

Selecting the right cities

Our proprietary analysis of more than 4,000 cities has identified the top 2% of those cities that we believe are best positioned to benefit from global megatrends.

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This material must be preceded or accompanied by a prospectus for Nuveen Global Cities REIT. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. An offering is made only by a prospectus to individuals who meet minimum suitability requirements. This sales literature must be read in conjunction with a prospectus in order to understand fully all the implications and risks of the offering of securities to which it relates. A copy of the prospectus must be made available to you in connection with this offering. Neither the Securities and Exchange Commission nor any other regulatory body has approved or disapproved of our securities or determined if our prospectus is truthful or complete. Neither the Attorney General of the State of New York nor the Securities Division of the Office of the Maryland Attorney General has passed on or endorsed the merits of this offering. Any representation to the contrary is a criminal offense.

The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Financial professionals should independently evaluate the risks associated with products or services and exercise independent judgment with respect to their clients.

All information is as of 31 Dec 2020, unless otherwise disclosed.

Nuveen Real Estate is a real estate investment management holding company owned by Teachers Insurance and Annuity Association of America (TIAA). Nuveen Securities, LLC, member FINRA and SIPC, is the dealer manager for the Nuveen Global Cities REIT, Inc. offering.

Risk factors:
Nuveen Global Cities REIT, Inc. is a non-listed REIT, which offers limited liquidity as compared to other products, such as publicly listed REITs. Investors in Nuveen Global Cities REIT, Inc. are not receiving publicly listed shares. An investment in Nuveen Global Cities REIT, Inc. involves a high degree of risk, including the same risks associated with an investment in real estate investments, including fluctuations in property values, higher expenses or lower expected income, currency movement risks and potential environmental liabilities. Please consider all risks carefully prior to investing in any particular strategy, including the following risks for Nuveen Global Cities REIT, Inc.:
  • We recently commenced operations and there is no assurance that we will achieve our investment objectives.
  • This is a “blind pool” offering and other than the investments described in the prospectus, you will not have the opportunity to evaluate our investments before we make them.
  • Since there is no public trading market for shares of our common stock, repurchase of shares by us will likely be the only way to dispose of your shares. Our share repurchase plan provides stockholders with the opportunity to request that we repurchase their shares on a monthly basis, but we are not obligated to repurchase any shares and may choose to repurchase only some, or even none, of the shares that have been requested to be repurchased in any particular month in our discretion. In addition, repurchases are subject to available liquidity and other significant restrictions. Further, our board of directors may modify, suspend or terminate our share repurchase plan if it deems such action to be in our best interest and the best interest of our stockholders. As a result, our shares should be considered as having only limited liquidity and at times may be illiquid.
  • The purchase and repurchase price for shares of our common stock is generally based on our prior month’s NAV (subject to material changes as described above) and is not based on any public trading market. While there is independent periodic appraisals of our properties, the appraisal of properties is inherently subjective, and our NAV may not accurately reflect the actual price at which our assets could be liquidated on any given day.
  • We have no employees and are dependent on Nuveen Real Estate Global Cities Advisors and its affiliates to conduct our operations. Nuveen Real Estate Global Cities Advisors will face conflicts of interest as a result of, among other things, the allocation of investment opportunities among us and Other Nuveen Real Estate Accounts, the allocation of time of investment professionals and the fees that we pay to Nuveen Real Estate Global Cities Advisors.
  • We cannot guarantee that we will make distributions, and if we do we may fund such distributions from sources other than cash flow from operations, including, without limitation, the sale of assets, borrowings, return of capital or offering proceeds, and we have no limits on the amounts we may pay from such sources.
  • This is a “best efforts” offering. If we are not able to raise a substantial amount of capital in the near term, our ability to achieve our investment objectives could be adversely affected.
  • There are limits on the ownership and transferability of our shares.
  • If we fail to qualify as a REIT and no relief provisions apply, our NAV and cash available for distribution to our stockholders could materially decrease and we could face a substantial tax liability.
  • Our investments in International Affiliated Funds may be subject to currency, inflation or other governmental and regulatory risks specific to the countries in which the Funds operate and own assets.

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