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National  + Healthcare  | 
Dignity Health medical office building Surprise AZ

Nuveen, NexCore Team on $620M Life Sciences Portfolio

Nuveen Real Estate and NexCore acquired a 29-building national healthcare and life sciences portfolio from IRA Capital for approximately $620 million. Spearheaded by Nuveen Real Estate’s newly launched U.S. Cities Office Fund, the acquisition includes $463 million in medical office buildings and $157 million in life sciences facilities totaling 1,165,173 square feet. 

“This is a foundational investment as we launch the fund and will provide immediate scale in a dynamic and growing sector,” said Bill Abramowitz, the fund’s portfolio manager. 

Jarrod Daddis, NexCore group president and managing partner, said the transaction expands NexCore’s strategic initiative to acquire and develop healthcare and life sciences portfolios nationwide with its capital partners. It’s the latest in series of transactions begun in 2020 between NexCore and Nuveen. 

“The NexCore/Nuveen partnership has been an extremely fruitful one where NexCore serves as the advisor, partner and property manager,” said NexCore managing partner Todd Varney. 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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