Investment manager Nuveen intends to enter the UK affordable housing sector on behalf of the TIAA General Account in a joint venture with Preferred Homes.
The partnership strategy is focused on the development of affordable retirement living in the UK’s regions and cities, with three sites already added to the pipeline.
Bill Bateman, managing director for European housing strategies at Nuveen, said: “With an increasingly ageing population and an acute affordable housing shortage, Nuveen is looking to provide long-term, impact-driven investment strategies which deliver risk-adjusted returns as well as creating social value.”
