Nuveen To Open 2 New Funds

Real estate investment manager Nuveen Real Estate hired two portfolio managers to oversee office and industrial investment strategies as the firm prepares to launch the U.S. Cities Office Fund and the U.S. Cities Industrial Fund.

The impending funds will be joining another recently launched fund within the company’s Global Resilient Series — Nuveen’s U.S. Cities Multifamily Fund. The addition of the funds and the funds' respective leaders allows investors to customize their investments among  multifamily, retail, office and industrial.

The two new leaders are Chad Phillips and Brian Tilton, who will report to Nuveen’s global chief operating officer and U.S. lead over portfolio management, Rahul Idnani.

"These new hires round out a year-long build-out of a talented portfolio management team to oversee the platform's series of open-end sector funds,” Idnani said. “Phillips and Tilton will partner with the office and industrial investment teams, respectively, to deliver a highly curated sector strategy."

Nuveen’s Global Resilient Series provides investors with core investments funds geared toward capitalizing on long-term structural real estate investments and demographic-driven trends in U.S. cities that offer the best opportunities.

Photo credit: Courtesy of Nuveen Real Estate
Nuveen Real Estate's Brian Tilton

Phillips and Tilton will serve as portfolio managers for the office and industrial sectors. The hires come nine months after Nikita Rao joined the firm to lead multifamily housing investment strategies. After her arrival, Nuveen launched its U.S. Cities Multifamily Fund in February with a seed portfolio of $850M.

Phillips joins Nuveen from Guggenheim Real Estate and has more than 18 years of experience in investment strategies, acquisitions, financing and dispositions. He will be based in the Charlotte office.

Tilton has 16 years of investment experience and most recently served the Canada Pension Plan Investment Board, leading the U.S. industrial team, overseeing investment strategy, sourcing, underwriting and structuring programmatic joint ventures and equity investments.

Nuveen has 323 assets, or $36B, in office assets worldwide, including $25B in U.S. office equity and debt investments.

On the industrial front, the firm manages $11.2B in properties globally with U.S. holdings hovering at about $9B in both equity and debt investments.

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