Nuveen Real Estate secures $480m for Asia Pacific vehicles

Nuveen Real Estate has raised more than $480 million for two of its Asia Pacific strategies, a spokesperson for the firm said in an email.

The investment manager has secured $420 million for its Asia Pacific Cities platform from eight European investors and $60 million for its China outlet mall platform, from a Dutch financial services company. Both strategies have already begun deploying capital.

Opened last year, the Asia Pacific Cities platform is one of six strategies among Nuveen Real Estate’s global resilient series, which invests in select “future-proof” cities across the region. The platform recently acquired a logistics facility in Greater Tokyo, following its first acquisition of an office asset in Sydney in late 2018 and its purchase of another logistics facility in Seoul in August.

According to the firm, Swiss and German institutions have backed the strategy, as well as private pensions, among others. Nuveen confirmed that the Asia Pacific Citi