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Nuveen Real Estate secures €40 million capital commitment for European Value Add strategy

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Nuveen Real Estate, one of the largest investment managers in the world with $153 billion of assets under management, has secured a further €40 million in capital commitments for its pan-European diversified Value Add strategy, from a Canadian institutional investor.

The latest commitment will give the strategy in excess of €500 million of dry powder following initial capital secured last year from Danish pension fund Sampension, Nuveen’s parent company TIAA, and a further Danish institutional investor. Fundraising for the strategy will continue during 2023, and aims to provide a solution for institutional investors looking to access potential returns through mispricing and repositioning opportunities in line with global megatrends.

The strategy has a cross-sector outlook and will source opportunities across Europe and the U.K. initially focusing on urban logistics, housing and alternatives. Earlier this year, the strategy announced its first transaction with the acquisition of a high-quality self-storage portfolio in the UK. It comprises four assets totalling c. 240,000 sq ft of predominantly modern, bespoke, purpose-built properties, which are located across the south-east of England including Crawley, Edenbridge, Maidstone and Tunbridge Wells. The European Value Add strategy discloses under Article 8 of the Sustainable Finance Disclosure Regulation and builds on a strong track record of finding value add opportunities in Europe, with over 85 years of experience investing across multiple market cycles and an established investment process.

David Pearce, Fund Manager, Real Estate, Europe at Nuveen, said: “The macro-economic backdrop continues to have a profound impact on the European real estate landscape, presenting a unique opportunity for us to leverage our track record and experience to source attractive risk adjusted returns in our target sectors with a particular focus on housing, student accommodation, self-storage and light industrial. We are delighted to see this story continue to resonate with investors across the globe.”

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