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Nuveen Buys Omni Holding Company’s Real Estate Portfolio
Nuveen, the asset management arm of TIAA, is acquiring a portfolio of affordable housing assets from Omni Holding Company. The deal will increase Nuveen’s affordable housing assets under management to $6.4 billion.
Since 2004, Omni has obtained, renovated, or constructed 94 projects comprising over 19,000 affordable housing units in the United States. The bulk of Omni’s portfolio is located in the New York metropolitan region, with over 10,000 units situated in the Bronx, Brooklyn, Queens, Manhattan, Long Island, and Newark, N.J.
“The acquisition strongly advances our ability to promote greater financial inclusivity, and health and wellness in communities that have lacked meaningful and lasting investment,” said Nadir Settles, global head of impact investing at Nuveen Real Estate. “Our strong commitment to affordable housing—and the communities where we are operating— is also a strong commitment to our clients, who are long-term supporters of this strategy.”
