Skip to main content
TOOLS
The Morningstar Fund Compare tool quickly evaluates different funds against one another. In addition to Nuveen funds, add any MF, CEF or ETF available from Morningstar. Important information and disclosures are included after you click Generate Report. Please ensure to enable pop-ups in your browser.
The Morningstar Portfolio Review tool compares and analyzes your portfolio holdings. In addition to Nuveen funds, add any MF, CEF or ETF available from Morningstar. Important information and disclosures are included after you click Generate Report. Please ensure to enable pop-ups in your browser.
utility-drawer__mobile-restriction Tools are currently unavailable for use on mobile. Please visit the desktop site.
fund compare tool image
Fund Compare
Quickly evaluate different MFs, CEFs and ETFs against one another
portfolio review tool image
Portfolio Review
Generate a detailed analysis of your portfolio holdings including MFs, CEFs and ETFs
Image of Municipal bond investing ladder tool
Municipal Bond Ladder Tool
Learn how a laddered portfolio may perform in rising rate environments
Powered by Morning star
Welcome to Nuveen
Select your preferred site so we can tailor your experience.
Select Region...
  • Americas
  • Asia Pacific
  • Europe, Middle East, Africa
location select
Select Location...
  • Canada
  • Latin America
  • United States
  • Australia
  • Hong Kong
  • Japan
  • Mainland China
  • Malaysia
  • New Zealand
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Other
  • Abu Dhabi Global Market (ADGM)
  • Austria
  • Belgium
  • Denmark
  • Finland
  • France
  • Germany
  • Ireland
  • Italy
  • Luxembourg
  • Netherlands
  • Norway
  • Spain
  • Sweden
  • Switzerland
  • United Kingdom
  • Other
location select
Global Cities REIT (GCREIT)
  • Institutional Investor
  • Individual Investor
  • Financial Professional
  • Global Cities REIT (GCREIT)
  • Green Capital
  • Private Capital Income Fund (PCAP)
location select
Privacy notice Cookie policy, terms of use
Accept to continue
Contact Nuveen
(Up to 600 characters)
Please check reCaptcha to continue
*Indicates Response Required
Thank You

Thank you for your message. We will contact you shortly.

Insights

Nuveen Global Cities REIT acquires three medical office and life science properties

22 Mar 2021  

Nuveen Global Cities REIT, Inc. (GCREIT) has completed the acquisition of three medical office and life science properties for an aggregate purchase price of approximately $35 million. GCREIT is a public, non-listed NAV real estate investment trust advised by an affiliate of Nuveen Real Estate, one of the largest real estate managers globally with approximately $133 billion of assets under management as of December 31, 2020.

GCREIT’s acquisitions offer increased exposure to a sector that is benefiting from short- and long-term demand growth. GCREIT believes that healthcare-centric real estate will continue to grow in importance during the coming decades, particularly in light of COVID-19, and is likely to spark more research into finding vaccines for future pandemics, which will be a key driver of life science demand.

While economic recovery continues in 2021, the pace will vary across sectors and industries. We are seeing certain real estate sectors such as industrial, technology and medical-related properties benefiting from macroeconomic trends such as e-commerce growth and increased reliance on technology and healthcare.
Richard Kimble, Portfolio Manager of GCREIT

The medical sector in the United States has experienced long-term tailwinds due to the aging baby boomer generation, comprised of approximately 73 million people who are increasingly seeking innovative healthcare solutions. Given the high cost of healthcare relative to other developed nations, more cost-effective medical care outside of the traditional hospital setting has become more popular.

The acquisitions are located in target United States cities selected for resiliency and bring GCREIT’s allocation to healthcare-centric real estate to approximately 14% of its $657.54 million portfolio, as of January 31, 2021.

  • 2945 Wilderness Place is a 31,000 square foot life science building located in Boulder, Colorado. The property is currently 100% leased and serves as the headquarters for a biotech company. GCREIT believes that the Denver/Boulder metropolitan area has all of the key elements of a strong life science market: strong life science employment growth; a concentration of scientists and high tech workers; the presence of the National Institutes of Health and venture funding; educational institutions providing life science graduates; and medical research and health services institutions.
  • Linden Oaks is a 43,000 square foot medical office property located in the Chicago, Illinois suburb of Naperville, which boasts median incomes that well out-pace the national average, as well as high insurance coverage with 95% of the population covered by health insurance. The property is currently 100% leased with an existing long-term lease, providing for the potential to generate a steady cash-on-cash return for GCREIT.
  • Locust Grove is a newly constructed 40,000 square foot outpatient medical office located outside of Atlanta, Georgia, which is currently 100% leased to an investment-grade health care tenant. The building is a Class-A purpose built medical office that will provide limited capital expenditure over the expected hold period while benefiting from the high growth market fundamentals of Atlanta.

GCREIT is sponsored by Nuveen, LLC, a TIAA company and externally advised by its affiliate, Nuveen Real Estate Global Cities Advisors, LLC, an investment advisory affiliate of Nuveen Real Estate.

Press office
Nuveen n logo on a blue background
All press enquiries
Forward-Looking Statements
Certain information contained in this press release constitutes “forward-looking statements” within the meaning of the federal securities laws and the Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by the use of forward-looking terminology or the negatives thereof. These may include GCREIT’s financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, and statements regarding future performance. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. GCREIT believes these factors include, but are not limited to, those described under the section entitled “Risk Factors” in its annual report for the most recent fiscal year, and any updated factors included in its periodic filings with the Securities and Exchange Commission (the “SEC”), which are accessible on the SEC’s website at www.sec.gov. Except as otherwise required by federal securities laws, GCREIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
Footer Navigation Arc Background
Performance
Properties
Literature
Executive officers
Board of directors
Portfolio execution team
Prospectus
Investor login

Stay informed

Stay up-to-date on our GCREIT offering

Subscribe
Nuveen Accessibility FINRA Broker Check TermsPrivacy Business Continuity
This material must be preceded or accompanied by a prospectus for Nuveen Global Cities REIT, Inc. 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 aprospectus 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. No offering is made except by a prospectus filed with the Department of Law of the State of New York. Neither the Securities and Exchange Commission, the Attorney General of the State of New York nor any other state securities regulator has approved or disapproved of these securities or determined if the prospectus is truthful or complete, or determined whether the offering can be sold to any or all purchasers in compliance with existing or future suitability or conduct standards including Regulation Best Interest. 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.

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.

Diversification of an investor's portfolio does not assure a profit or protect against loss in a declining market.

Summary of 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.:

  • There is no assurance that we will achieve our investment objectives.
  • You will not have the opportunity to evaluate our future investments before we make them, and we may not have the opportunity to evaluate or approve investments made by entities in which we invest, such as the International Affiliated Funds, which makes your investment more speculative.
  • 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 or suspend 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 we obtain 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.
  • Our board of directors may also determine to terminate our share repurchase plan if required by applicable law or in connection with a transaction in which our stockholders receive liquidity for their shares of our common stock, such as a sale or merger of our company or listing of our shares on a national securities exchange.
  • We have no employees and are dependent on our Advisor and its affiliates to conduct our operations. Our Advisor 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 our Advisor.
  • 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.
  • 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 International Affiliated Funds operate and own assets.
  • The defined terms have the meanings assigned to them in the prospectus.

© 2024 Nuveen Global Cities REIT

VWB-2194614PR-E0522W

This content is not approved for use in Ohio.

Continue
Contact us
Contact us
Back to Top