Exterior of office building TIAA headquarters at 730 Third Ave. in Midtown Manhattan. (Photo: Secure Source Energy)

NEW YORK CITY—Joining a field of institutional heavyweights that already includes Blackstone and Starwood Capital Group, TIAA’S Nuveen LLC plans to raise up to $5 billion with an initial public offering for its non-traded REIT. The newly organized Nuveen Global Cities REIT filed a registration statement with the SEC just before the Christmas holiday weekend; it will be externally advised by a TH Real Estate affiliate.

“Our objective is to bring TH Real Estate’s leading real estate investment platform with an institutional fee structure to the public, non-listed REIT industry,” according to the Nuveen REIT’s registration statement. “We will seek to build a diversified portfolio of high quality, stabilized, income-orientated commercial real estate with good fundamentals located in or around certain global cities that have been identified, through TH Real Estate’s research and filtering process, for their resilience, structural performance potential and ability to deliver an attractive and stable distribution yield.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.