Nuveen, the asset management arm of TIAA, has acquired a portfolio of affordable housing assets from Omni Holding Company. This deal increases Nuveen’s affordable housing assets under management to $6.4 billion. Since 2004, Omni has obtained, renovated or constructed 94 projects comprising over 19,000 units in the United States with most located in the New York metropolitan region including Bronx, Brooklyn Queens Manhattan Long Island and Newark NJ.
Nadir Settles global head of impact investing at Nuveen Real Estate commented that “the acquisition strongly advances our ability to promote greater financial inclusivity health and wellness in communities that have lacked meaningful and lasting investment” He further added “Our strong commitment to affordable housing—and the communities where we are operating— is also a strong commitment to our clients who are long-term supporters of this strategy”
This strategic move by Nuveen will help them strengthen their position as an industry leader when it comes providing quality real estate solutions for its clients while promoting financial inclusion across various US cities
