Nuveen Pursues Multifamily Assets, Launching New Fund

James Martha, head of US housing at Nuveen

NEW YORK CITY—One of the world’s largest investment managers with $125 billion AUM, Nuveen Real Estate, on Tuesday announced the launch of an open-end perpetual life real estate fund focused on acquiring and managing institutional quality multifamily rental properties across the US. The US Cities Multifund is anchored by a $450 million capital commitment and seed portfolio from a third party, unnamed investor and a $100 million co-investment from Nuveen’s parent company, TIAA.

The fund will be for investors looking to commercial real estate for income and diversification, according to James Martha, head of US housing at Nuveen. “We are well-positioned to build an attractive portfolio of apartment assets that reflect the dynamic and stable growth attributes of this sector,” he says. “We have over six decades of experience investing in the multifamily sector and have established a strong platform to match client capital with investment opportunities that respond to modern living needs.”