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“Nuveen Raises $250M for Impact Housing Fund”

"Nuveen Raises $250M for Impact Housing Fund"

Nuveen has received a $250 million commitment from the TIAA General Account to establish the Nuveen Real Estate U.S. Impact Housing Fund. This core-plus, open-end fund aims to generate strong risk-adjusted returns while providing housing opportunities for low-income residents throughout the United States. It will invest in a diverse portfolio of properties located across different regions and including those with rent subsidies, restrictions on rent and income, as well as Naturally Occurring Affordable Housing (NOAH) assets. Additionally, the fund is committed to supporting minority and women developers who specialize in affordable housing projects.

According to Pamela West, Portfolio Manager of Impact Investing at Nuveen Real Estate: “As demand for affordable housing continues to grow nationwide, more investors are seeking opportunities within this resilient sector that not only produce positive societal benefits but also offer stable returns – both of which align with TIAA’s objectives.” She further adds that affordable housing plays a crucial role in creating healthy and sustainable communities by promoting economic activity and job creation.

The article titled “Nuveen Secures $250M for Impact Housing Fund” was originally published on Connect CRE.

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