Nuveen Real Estate has invested an additional $274m (€236.9m) to gain majority stakes in two US life-science office buildings from Alexandria Real Estate Equities.
Real estate investment trust Alexandria disclosed in a third-quarter earnings report that Nuveen now holds a 75% stake in 409/499 Illinois Street. Nuveen acquired its initial 40% stake for $189.6m in 2016.
Nuveen has also lifted its stake in the 1500 Owens Street from 49.1% to 75% following an initial $73.3m investment five years ago, according to Alexandria.
The assets are located in the Mission Bay submarket of San Francisco.
Nuveen made the investment for the TIAA-CREF general account.
Nuveen did not respond to a request for further comment.
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