Nuveen Real Estate invests in new single-family home platform
Nuveen Real Estate has plans to invest up to $400 million through Sparrow, a newly launched, vertically-integrated single-family home rental platform.
Nuveen’s strategic investment provides capital for Sparrow to expand its single-family home rental platform as well as grow its portfolio of single-family homes. Sparrow and Nuveen will invest in high-growth markets across the Sun Belt states that demonstrate attractive economic and demographic drivers. The platform will start with targeted cities within Texas, Florida and Arizona.
Nuveen’s investment in Sparrow is part of Nuveen’s expanding alternative real estate platform.
“Our investment in Sparrow allows us to efficiently scale with a best-in-class team in a sector where we have tremendous conviction,” said Michael Hunter, global head of alternatives and strategic transactions at Nuveen Real Estate. “We believe the fundamental shift in demographics and lifestyles which underpin demand for single-fa