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uveen, the investment manager of TIAA, has launched a 1031 real estate exchange platform to help advisors and clients strategically reposition real estate assets into tax-advantaged investments. The Umbrella Partnership Real Estate Investment Trust (UPREIT) program allows property owners to convert proceeds from sales into a diversified ownership interest in Nuveen Global Cities Real Estate Investment Trust (GCREIT).
GCREIT is a non-listed REIT that focuses on commercial real estate properties, aiming to provide income and growth from the world's most dynamic cities. The 1031 UPREIT program addresses key planning objectives such as capital gains deferral, estate transition, and portfolio diversification while offering access to Nuveen's institutional-quality global real estate strategy.
"We believe the market environment presents an opportune time for investing in real estate," said Jeff Carlin, Head of Global Wealth Advisory Services at Nuveen. "Our 1031 UPREIT program provides a competitive solution that combines tax-advantaged and tax-managed approaches with our market-leading real estate platform."
The program allows advisors to deliver more than just a transaction, integrating tax expertise, investment selection, and estate planning into a single client-centric solution. Nuveen's 1031 UPREIT platform enables the conversion of proceeds from qualifying property sales into interests in a Delaware Statutory Trust (DST) owning real estate.
Over time, GCREIT may cause the DST interests to be exchanged for operating partnership units, providing the opportunity for full participation in the income potential and future liquidity of a diversified global REIT portfolio. This approach can help strengthen relationships and deliver long-term value through every stage of the client journey.
Nuveen Real Estate is one of the largest real estate investment managers globally, with over 750 dedicated employees across more than 30 cities. GCREIT leverages this scale through a proprietary analysis of over 4,000 cities to identify high-conviction locations that are best positioned to benefit from demographic tailwinds and structural demand.
The 1031 UPREIT platform is a natural extension of Nuveen's value proposition, blending investment performance, tax management, and legacy planning. Investors should be aware that alternative investments carry significant risks, including the potential loss of principal, and there is no guarantee that investment objectives will be achieved.
