Nuveen Real Estate has completed a $660 million first close for its open-end U.S. Cities Industrial Fund. The investment vehicle acquires and manages institutional industrial properties in select cities across the United States.
The investor base consisted of institutional investors in North America, Europe and Asia Pacific, including a $150 million commitment from Nuveen’s parent, TIAA.
“The U.S. Cities Industrial Fund provides investors with broad-based logistics exposure while strategically concentrating investments in buildings that are closest to consumers and in markets with strong fundamental growth opportunities, together capitalizing on secular demand trends driven by e-commerce and urbanization,” said Brian Tilton, managing director, portfolio manager of the fund.
The U.S. Cities Industrial Fund is part of Nuveen Real Estate’s global resilient series of open-end, core investment funds, which target 35 “dynamic and resilient cities” in all o
