Nuveen has reached the second close of its commingled Australian commercial real estate debt strategy with commitments of more than A$650 million ($424 million).
Canada Pension Plan Investment Board (CPP Investments), through its subsidiary CPPIB Credit Investments Inc., invested A$300 million ($196 million), joining Teachers Insurance and Annuity Association of America (TIAA) and Temasek as strategic partners of Nuveen for this strategy. Total AUM are expected to exceed A$1 billion ($650 million) including capital approved for co-investments.
The strategy is already more than 40 percent deployed via committed loan investments focusing on institutional senior and junior loans secured by prime real estate in Australia. Preferred sectors for the strategy are industrial/logistics and residential, with a selective approach to retail, office and alternatives across major cities in Australia.
The strategy leverages both Nuveen Real Estate’s global debt platform, whi
