Nuveen Real Estate launches U.S. Cities Office Fund, buys healthcare and life sciences portfolio for $620m

Nuveen Real Estate has recently closed on the acquisition of a 29-building national healthcare and life sciences portfolio for an aggregate purchase price of approximately $620 million from IRA Capital.

The transaction was spearheaded by Nuveen Real Estate’s newly launched U.S. Cities Office Fund, which is part of Nuveen Real Estate’s Global Resilient Series of open-end, core investment funds. These unique funds aim to capitalize on long-term, structural real estate themes and demographic megatrends by investing in dynamic and resilient cities to achieve diversification, income and long-term capital growth. In the United States, these vehicles provide investors the opportunity to efficiently customize their core allocations across the four primary property sectors: multifamily, retail, office and industrial. This new acquisition will augment the fund’s existing exposure to healthcare and life sciences assets through the addition of a credit-backed portfolio focused