Nuveen Real Estate announces $150m allocation from CalSTRS to invest in self-storage sector

by Andrea Zander

Nuveen, the investment manager of TIAA and one of the largest real estate managers in the world with $141 billion in real estate assets under management, has announced the closing of a separately managed account for the California State Teachers’ Retirement System (CalSTRS) to invest in self-storage assets across the United States. This strategic collaboration includes an initial equity commitment of $150 million from CalSTRS, alongside a 10% equity commitment of $16.6 million from the TIAA General Account for a total allocation of $166.6 million.

Survey of investor sentiment reveals satisfaction and plans to increase commitments to real estate

by Loretta Clodfelter

Investors are more optimistic about their prospects for capital commitments to real estate in 2025 compared with their actual commitments in 2024, according to the 2025 Institutional Real Estate Investor Trends, Institutional Real Estate, Inc.’s annual survey of global investor sentiment.

Notes from the road: Key themes from IREI’s Annual Investor Survey Roundtable Series

by Chase McWhorter

IREI has been conducting an Annual Investor Survey for 29 years. We collect the responses from Thanksgiving to VIP Americas in late January. The last few years we’ve received between 150 and 200 responses giving a good representation on investor sentiment going into the new year. This is the first year that IREI hosted a series of in-person Roundtables in various cities to discuss and strategize on the results. We hosted these throughout the month of March in Chicago, Boston, New York and Dallas.

Q&A: A closer look at fund operations lift-outs in the real estate investment management industry

by Loretta Clodfelter

Trends in fund administration have seen a shift toward third-party outsourcing of many fund administration roles. The lift-out, where a fund operations team will be transferred from an investment manager to a third-party administrator, is seeing growing acceptance in the real estate investment industry. Jean-Francois Gillard, executive managing director and head of investment accounting and reporting with CBRE, recently spoke with IREI about a new report from CBRE on the topic, Beyond Outsourcing: The Rise of Back-Office Lift-Outs for Institutional Real Estate Investors, and other aspects of the lift-out process. The following is a lightly condensed and edited version of that interview.