Nuveen Real Estate has held a final close of its U.S. Strategic Debt Fund at $650 million in total equity commitments, exceeding its initial target size of $500 million.
The closed-end, value-added debt fund represents Nuveen’s first closed-end fund offering in the commercial real estate credit space and focuses on transitional commercial real estate debt opportunities across the United States. The fund benefits from significant alignment through TIAA’s General Account commitment of $150 million along with a diverse institutional investor base including foreign and domestic insurance companies and pension funds.
“We are pleased with the strong investor response to our U.S. Strategic Debt Fund, which reflects the confidence institutional investors have in our debt platform and the compelling opportunity we see in today’s commercial real estate lending market,” said Jason Hernandez, head of real estate debt, Americas, at Nuveen Real Estate. “The successful cl
