Nuveen Real Estate raises $650m for final close of U.S. Strategic Debt Fund

Nuveen Real Estate, a leading global real estate investment manager with $139 billion in assets under management, today announced the successful final close of its U.S. Strategic Debt Fund (the "Fund") at $650 million in total equity commitments, exceeding its initial target size of $500 million.

The closed-end, value-add debt fund represents Nuveen's first closed-end fund offering in the commercial real estate credit space and focuses on transitional commercial real estate debt opportunities across the United States. The Fund benefits from significant alignment through TIAA's General Account commitment of $150 million along with a diverse institutional investor base including foreign and domestic insurance companies and pension funds.