Nuveen Real Estate has completed the first close of its third UK debt strategy, having secured £140 mln (€163 mln) in initial commitments.
Several UK and international investors have committed to the first close joined by TIAA’s ‘General Account’, which is managed by Nuveen. The strategy is targeting a total capital raise of £500 mln, and it is currently in the process of completing its first two loans for the latest venture.
This launch represents the third strategy of Nuveen’s UK debt series, which has been designed to provide a solution for institutional investors looking to access potential returns which are secure and income-focused. The firm’s global debt platform has grown in recent years and is active across the US, Europe and APAC, with over $41 bn of capital invested globally on behalf of a range of pooled funds and separate mandates from a global client list.
Nuveen Real Estate’s European Debt Team originated £500 mln in new loans during the first half of 2021, secured against a wide-range of asset classes including logistics, residential, life sciences and offices.
The company also recently announced the appointment of Peter Hansell as a senior director, bolstering its European debt team.
Christian Janssen, head of Commercial Real Estate Debt, Europe, at Nuveen Real Estate, commented: 'At this time, debt investment is at a sweet spot in the market, as it can offer an attractive level of income with a measure of downside protection against short-term volatility, which is particularly prevalent as the UK comes out of the pandemic and establishes its post-Brexit geo-economic position. The Debt Team’s global expertise, track record and reputation help us source and manage attractive opportunities for our investors.'
