Nuveen Real Estate has plans to enter the U.K. affordable housing sector on behalf of the TIAA General Account in a joint venture with Preferred Homes Limited (PHL), a for-profit Registered Provider of Affordable Housing, supported by Ashbourne Capital Partners (ACP).
The joint venture has identified an attractive pipeline of opportunities across three sites in the United Kingdom’s regions and cities, leveraging the expertise of local authorities where there is a significant undersupply of extra care housing. The partnership strategy is focused on the development of affordable retirement living and will integrate each scheme within its local area, providing opportunities for local businesses and an enhanced amenity offering to local residents.
While truly affordable, the schemes are accessible and sustainable, enabling residents to live their lives alongside each other, respecting privacy but embracing community. The sites will contribute to the regeneration of tow
