Officials from both companies rang the opening bell on the stock exchange floor Friday. Nuveen Real Estate stock opened at $15 per share, rose as high as $15.40 before closing at $15.25 in its first day of trading.
"Security Capital Research & Management has established a rigorous investment process that has achieved a record of consistent performance," says managing director Anthony R. Manno Jr. "By teaming with Nuveen, an acknowledged leader in structured fund products, we are bringing the best of both worlds to investors."
Salomon Smith Barney Inc. served as lead manager of the underwriting syndicate.
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