{"id":1004397731,"date":"2020-03-05T05:54:11","date_gmt":"2020-03-05T13:54:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004397731"},"modified":"2020-03-05T05:54:11","modified_gmt":"2020-03-05T13:54:11","slug":"nuveen-industrial-fund-raises-660m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/","title":{"rendered":"Nuveen Industrial Fund Raises $660M"},"content":{"rendered":"
\"\"<\/a>

4024 Rock Quarry Road, Dallas. Image courtesy of Nuveen<\/em><\/p><\/div>\n

Nuveen Real Estate has raised $660 million to launch its U.S. Cities Industrial Fund, an open-end core CRE investment vehicle that acquires and manages institutional-quality industrial properties in select cities<\/a> across the U.S. The first close reflects capital raised from institutional investors in North America, Europe and Asia-Pacific, including a $150 million commitment from Nuveen\u2019s parent, TIAA.<\/p>\n

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READ ALSO<\/strong>: Is Coronavirus CRE\u2019s Black Swan?<\/a><\/p>\n

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In a prepared statement, the fund\u2019s portfolio manager, Nuveen Managing Director Brian Tilton described the fund as giving investors \u201cbroad-based logistics exposure while strategically concentrating investments in buildings that are closest to consumers and in markets with strong fundamental growth opportunities, together capitalizing on secular demand trends driven by e-commerce and urbanization.<\/em>\u201d<\/p>\n

In October, the fund acquired from Blackstone a $1.3 billion seed portfolio of 45 well-leased, Class A buildings totaling about 11.4 million square feet and located in 12 strategic U.S. logistics markets. That deal was a portion of an even larger deal Nuveen Real Estate inked with Blackstone: The latter\u2019s sale of an approximately $3 billion industrial portfolio<\/a> of 100 properties totaling almost 29 million square feet.<\/p>\n

A Nuveen spokesperson told Commercial Property Executive<\/em> that the company has not set a specific target amount for a final close on this fund.<\/p>\n

Seeking resilient markets<\/h2>\n

The U.S. Cities Industrial Fund is part of Nuveen Real Estate\u2019s Global Resilient Series of open-end, core investment funds that are intended to capitalize on long-term, structural real estate themes and demographic mega-trends by investing in approximately 35 resilient, \u201cfuture-proofed<\/em>\u201d U.S. cities to achieve diversification, income and long-term capital growth. Nuveen Real Estate\u2019s U.S. industrial holdings now total about $13.2 billion across both equity and debt investments, with exposure to 247.2 million square feet in the U.S.<\/p>\n

The U.S. industrial real estate market finished 2019 on a positive note, with vacancy steady or declining and asking rents having risen for 29 consecutive quarters, according to a new report from JLL. And although the construction pipeline is sturdy, leasing activity continues to outpace new deliveries.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has announced the first close of its U.S. Cities Industrial Fund, after participating in the purchase of a 100-building portfolio from Blackstone last year. <\/p>\n","protected":false},"author":882,"featured_media":1004397779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,23891,21742],"tags":[32914,32796,43901,33460],"class_list":["post-1004397731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-national","category-latest","tag-e-commerce","tag-jll","tag-nuveen-real-estate","tag-tiaa"],"acf":[],"yoast_head":"\nNuveen Industrial Fund Raises $660M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nuveen Industrial Fund Raises $660M\" \/>\n<meta property=\"og:description\" content=\"The company has announced the first close of its U.S. Cities Industrial Fund, after participating in the purchase of a 100-building portfolio from Blackstone last year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-05T13:54:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Nuveen.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"626\" \/>\n\t<meta property=\"og:image:height\" content=\"469\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/\",\"name\":\"Nuveen Industrial Fund Raises $660M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Nuveen.jpg\",\"datePublished\":\"2020-03-05T13:54:11+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/nuveen-industrial-fund-raises-660m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Nuveen.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/Nuveen.jpg\",\"width\":626,\"height\":469,\"caption\":\"4024 Rock Quarry Road, Dallas. 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