Nuveen, the investment manager of TIAA, 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 percent equity commitment of $16.6 million from the TIAA General Account for a total allocation of $166.6 million.
The strategy will focus on acquiring and developing self-storage assets across the risk spectrum in U.S. markets characterized by strong demographic trends, low supply forecasts and limited institutional ownership. The investment initiative seeks to generate attractive risk-adjusted returns through portfolio aggregation, implementing institutional-quality management and strategic asset expansion.
MyPlace Self-Storage, a vertically integrated self-storage company, will ser
