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Code, located in Paris CBD was a major redevelopment from a car park into a Grade A office with a strong focus on sustainability certifications and occupier health and wellbeing. Several sustainability and health and wellbeing certifications were achieved upon completion.

Prepared by EQT

Allee Center, located in Leipzig (Germany) is a daily needs shopping destination and community hub in the district. Indoor and outdoor greenery, water features and biophilic elements enhance the visitor experience. Active engagement with community groups and charities as well as holding community events have ensured strong links with the local community.

Prepared by EQT

Nuveen’s Private Markets Impact Investing Report highlights its approach to impact investing and how they built their impact strategy over the last decade. Together with the real estate impact investing case studies, the report illustrates how to create a theory of change for impact evaluation and an example of building a responsible exit strategy. 

Theory of Change
Nuveen created a robust Theory of Change connecting its investments to its overarching goal, “to create or preserve safe, affordable, and sustainable housing for low-income individuals and families”. To develop its ToC, Nuveen identified the challenges it seeks to address and the specific types of impact it intends to achieve. Through this process, Nuveen’s team recognized that its impact investment strategy for affordable housing encompasses several sub-strategies creating impact across multiple dimensions beyond access to affordable housing, such as access to social services related to financial inclusion, health and education, and building sustainability.

Responsible Exit
Nuveen’s U.S. affordable housing strategy aims to increase access to sustainable, safe and affordable housing for underserved and low-income communities. 
In 2018, Nuveen invested in Shore Hill Senior Community, an affordable senior housing community located in the Bay Ridge area of Brooklyn, NY. The complex includes studio and one-bedroom rental units and tenants pay no more than 30% of their income towards rent. 

As affordability restrictions were due to expire in a few years, there was the threat that a traditional investor could have bought the asset to profit from a sizeable rental uplift when exchanging tenants and modernising housing units. To counter this, Nuveen extended the affordability restrictions, which kept rent costs 45% below market rate for the tenants.

Prepared by Nuveen Global

This short paper aims to clarify the role impact investing can play across the broad spectrum of real estate investments and explains the concepts, frameworks and tools that are currently used across asset classes.

To help us shape the Debt Vehicle DDQ and further improve your workflow we present an updated version for member consultation. This consultation period is open for eight weeks, members are invited to provide feedback before 28 October. 

This disclosure example was developed to provide consistency of content and approach when investment managers report to investors on the impact of COVID-19 on rental collection.

Constantin Sorlescu, INREV, John Ravoisin, PwC, Nick Brown, M&G Real Estate, Robert White, EY and John Forbes, John Forbes Consulting, discussed the recently launched Open End Fund Pricing consultation paper, including a highly relevant section in today’s uncertain times related to pricing policy during exceptional market circumstances.

Through the global non-listed partnership, The INREV / ANREV / NCREIF alliance advances the global agenda of transparency, accessibility and professionalism to increase harmonization across the non-listed real estate industry globally.

This short paper provides non-listed real estate investors with a pocket guide to the secondary markets; its uses, benefits as well as some important considerations that should be taken into account as we prepare for the new wave of challenges related to COVID-19.