Nuveen Real Estate is one of the largest investment managers in the world with $130 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 80 years of real estate investing experience and more than 600 employees* located across over 25 cities throughout the United States, Europe and Asia Pacific, the platform offers unparalleled geographic reach, which is married with deep sector expertise.

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* Includes 314 real estate investment professionals, supported by a further 290+ Nuveen employees.

Source: Nuveen, 30 June 2019.

Sector forecasts

Retail: The retail sector continues to be challenged by bankruptcies and store closings as disruption from e-commerce continues to challenge the market. Going forward, Millennials and Generation Z will shape the retail landscape as they continue to buy more organic and healthy products. These trends will continue during the next 15 years, resulting in higher spending in health and shelter with less spending on transportation, groceries and clothing. Retail fundamentals continue to show signs of softening. For the year ending 30 June 2019, retail properties held in the NCREIF Property Index saw a 1.7% total return, which was comprised of a 4.7% income return and –2.8% appreciation return. Data from the US Census Bureau indicates that retail sales, excluding motor vehicles and parts, increased 3.3% in the second quarter on a year-over-year basis.

Industrial: Warehouses continue to be one of the top-performing property types and will continue to be going forward due to rising e-commerce retail sales. Demand has also been driven by GDP growth, international trade and consumer spending. For the year ending 30 June 2019, industrial properties held in the NCREIF Property Index saw a 13.9% total return, which was comprised of a 4.8% income return and 8.8% appreciation return. CBRE-EA data indicates that industrial availability remained at 7.1% in the second quarter of 2019. Industrial rent growth continues to surpass all other main property types with a 6.4% increase between the second quarter 2018 and the second quarter 2019 while net operating income grew 6.5% year-over-year, according to NCREIF.

Residential: Future apartment demand will be generated by megatrends such as household formations, longer household renters, changes in the homeownership rate and overall quality of life within a particular city. Millennials and Generation Z will also drive demand for apartments in the coming decade. According to CBRE-EA, apartment vacancy ticked down 60bps to 4.0% in the second quarter of 2019. Apartment rent growth increased 2.9% year-over-year while net operating income grew 2.8% year-over year, according to NCREIF. In the near term, supply growth is expected to accelerate in Sun Belt markets and moderate in Coastal markets.

Office: The office sector continues to see shifts from traditional to flexible space as tenants increasingly want to customise their space. National office fundamentals are solid with continued strength in tech-centric West Coast, Sun Belt, and life science markets. For the year ending 30 June 2019, office properties held in the NCREIF Property Index saw a 6.8% total return, which was comprised of a 4.5% income return and 2.3% appreciation return. CBRE-EA data indicates office vacancy ticked down 10bps to 12.2% in the second quarter of 2019. Office rent growth increased 1.8% year-over-year while net operating income grew 3.2% year-over-year, according to NCREIF. Business and professional services and financial services are driving office space absorption. These sectors combined added 148,000 jobs during the second quarter.

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. Environmental and social governance is embedded into everything we do for the enduring benefit of 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:

  • Our resilient series is designed for investors who are focused on diversification, income and long-term capital growth. Our strategies focus on investing in high-quality assets in leading cities that are well positioned in terms of long-term structural trends, including demographic change, urbanisation and technology.
  • Our enhanced series applies strategies that work within market cycles, use a more active asset management and repositioning approach, and/or invest in emerging sectors and locations. These strategies are designed for investors that are looking for an enhanced level of capital growth.
  • Our debt series is designed to provide investors with access to secure, income-focused returns. Our strategies may suit cautious investors seeking attractive levels of income with a measure of downside protection against short-term capital cycles.

Performance verification

Nuveen Real Estate has its own performance analysis team dedicated to measuring and analysing property portfolio and fund performance.

COMPLIANCE STATEMENT // All information is as at 30 June 2019 and sourced to Nuveen Real Estate. This profile is intended solely for the use of professionals and is not for general public distribution. The information contained herein was up to date at the time of producing and is subject to change. This information is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. This document is not directed at or intended for any person (or entity) who is citizen or resident of (or located or established in) any jurisdiction where its use would be contrary to applicable law or regulation [or would subject the issuing companies or products to any registration or licencing requirements] Nuveen Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. Nuveen Real Estate is an investment affiliate of Nuveen, LLC (“Nuveen”). Issued by Nuveen Real Estate Management Limited (reg. no. 2137726), (incorporated and registered in England and Wales with registered office at 201 Bishopsgate, London EC2M 3BN) which is authorised and regulated by the Financial Conduct Authority to provide investment products and services.