Nuveen Real Estate is one of the largest investment managers in the world with $141 billion of assets under management.
Managing a suite of funds and mandates, across both public and private investments, and spanning both debt and equity across diverse geographies and investment styles, we provide access to every aspect of real estate investing.
With over 90 years of real estate investing experience and more than 765 employees* located across 30+ cities throughout the United States, Europe and Asia Pacific, the platform offers global reach with deep sector expertise, providing investors access to high quality investments across the private real estate investment landscape.
For further information, please visit us at nuveen.com/realestate
*Includes 355 real estate investment professionals, supported by a further 411 Nuveen employees. Source: Nuveen, 30 June 2025.
Sector forecasts
INDUSTRIAL: Logistics demand has normalized, with trade tariffs adding downside risk. Occupiers are now more cautious and cost sensitive, leading to limited rental growth in many markets. However, demand for prime locations endures, with assets offering lower transportation costs and better labor access continuing to attract tenants. Rising logistics vacancy rates across Asia Pacific reflect new supply, prompting landlords, especially in peripheral areas, to increase incentives to maintain occupancy. Australia, Hong Kong and Tokyo saw further incentive rises, while incentives for dry warehouses in Seoul are stabilizing due to a shrinking supply pipeline.
OFFICE: Weaker economic growth has made occupiers more selective with leasing, moderating tenant relocations and resulting in declining net absorption in Q2 2025. This cautious sentiment highlights disparities across Asia Pacific office markets. Singapore, Seoul and Tokyo saw continued rental growth, while Greater China offices faced downward pressure from ample supply and aggressive leasing. Australia’s eastern seaboard markets are showing signs of stabilization, with prime office vacancies falling amid ongoing flight-to-quality and central locations. Notably, Melbourne joined Sydney and Brisbane in posting positive rental growth, ending a nearly three-year decline.
LIVING: The residential sector has shown strong resilience, with stable occupancy rates above 90% in major markets for over two decades. Tokyo leads, driven by robust migration and a compelling live-work-play environment, with foreign migrants making up about one-third of new arrivals and supporting rental demand. In South Korea, interest in rental housing is rising as leasing shifts from the Jeonse system to monthly rents. This trend highlights sustained demand for well-managed, well-designed rental properties that appeal to young professionals seeking convenience and flexibility.
RETAIL: Economic uncertainty is weighing on consumer confidence and spending, but labor markets remain stable. Supermarket sales across the region show that demand for daily necessities is resilient, while discretionary spending remains weak. Despite slower consumption, investors are revisiting Australia’s retail sector, attracted by strong initial yields and steady population growth supporting future sales. With a new retail supply 47% below the 10-year average, well-performing malls face less competition. Notably, retail investment turnover in Australia rose 6% y-o-y in H1 2025, with some foreign investors entering the sector for the first time and local investors also returning.
OTHER: Alternative real estate sectors are relatively insulated from trade tariffs, thanks to unique demand drivers. Senior living benefits from an aging population and rising care needs, while student housing remains resilient as weak job markets encourage prolonged education, supporting college enrollment. Investor interest in alternatives continues to grow, with H1 investment turnover reaching US$5.6 billion—a 15% y-o-y increase. Notably, most activity is in data centers, senior living and student housing, which offer strong resilience through economic cycles, driven by powerful demographic and technological trends.
Investment principles & strategy
A client-focused culture is at the core of who we are and what we believe our clients expect from us. We take a stable, risk-aware investment approach to our business, which places our clients and investment teams at the heart of our process. Our fund management teams work closely with our clients to deliver investment performance that meets their objectives. The teams operate within a defined investment process with established risk controls, accompanied by investment committee oversight. Our tomorrow’s world investment philosophy incorporates strategic insights on megatrends throughout every stage of the investment process, looking beyond market cycles to assess how structural trends can best inform long-term real estate investments. Sustainability is embedded in everything we do for the enduring benefit of our clients and society.
Strategic corporate development
We work closely with our clients to develop long-term strategic relationships, to understand their goals and meet their requirements. To ensure we provide each investor with a tailored solution, made up of a range of products and strategies, we have developed our range of solutions to offer the resilient, enhanced and debt series as well as our global strategic capitalisations:
- Our resilient series focuses on providing investors with diversification, income and long-term capital growth. We invest in assets that provide durable capital preservation with an exposure to essential property sectors that look beyond market cycles.
- Our enhanced series aims to provide investors with enhanced levels of capital growth. We invest in assets in emerging sectors and locations where we have identified mispricing opportunities that have the potential to benefit from current megatrends.
- Our debt series is designed to provide investors with income-driven returns and downside risk mitigation. We provide loans on institutional quality assets across the risk spectrum to help navigate short-term market cycles.
Our global strategic capitalization offering is our newest addition, where investment strategies are designed to meet evolving client priorities, providing customized solutions based on specific client needs.
Performance verification
Nuveen Real Estate’s Performance Team has over 35 years of applied real estate performance and risk management experience. Applying strong auditable control risks, and adopting applicable real estate industry standards, the team operates independently of fund and account teams.
COMPLIANCE STATEMENT
All information is as at 30 June 2025. These materials are for use only by the intended party and may be circulated to only the person whom they may lawfully be distributed. Any entity responsible for forwarding this material to other parties takes responsibility for ensuring compliance with local laws and in particular any applicable financial promotion rules. The information presented in these materials is believed to be materially correct as at the date hereof, but no representation or warranty (express or implied) is made as to the accuracy or completeness of any of this information. Data was taken from sources deemed reliable but cannot guarantee its accuracy. The statements contained herein reflect opinions as of the date written and are subject to change without further notice. Nothing set out in these materials is or shall be relied upon as a promise or representation as to the past or future. This information does not constitute investment research as defined under MiFID. Nuveen, LLC provides investment solutions through its investment specialists.
