**Nuveen Launches 1031 Exchange Platform to Facilitate Tax-Advantaged Real Estate Investments**
Nuveen, the investment management arm of TIAA, has introduced a new 1031 real estate exchange platform designed to support advisors and investors in repositioning real estate holdings into institutionally managed, tax-advantaged investment vehicles.
The initiative is structured as an Umbrella Partnership Real Estate Investment Trust (UPREIT) program. Through this framework, property owners can potentially convert the proceeds from real estate transactions into a diversified interest in the Nuveen Global Cities Real Estate Investment Trust (GCREIT), a non-listed REIT that focuses on commercial real estate investments.
“With global real estate rebounding and property values stabilizing after a challenging post-COVID period, we believe the market environment presents an opportune time and attractive entry point for the asset class,” said Jeff Carlin, Head of Global Wealth Advisory Services at Nuveen. “Our 1031 UPREIT program addresses the significant number of clients seeking more tax-efficient, diversified real estate allocations.”
This launch aims to meet growing demand for flexible and effective real estate investment solutions amid evolving markets and shifting investor priorities.
