There’s interesting news on the affordable housing front.
California Public Employees’ Retirement System (CalPERS), one of the nation’s largest pension funds, is making a big bet on affordability. They’ve committed a cool $100 million to Nuveen Real Estate’s U.S. Affordable Housing Fund.
Nuveen, who you might know as the investment manager for Teachers Insurance and Annuity Association (TIAA), is a heavyweight in the real estate world.
They’re not just dipping their toes into affordable housing either – Nuveen already boasts a sizeable portfolio of market-rate properties. This strategic partnership suggests they see significant potential in the affordable housing market.
The U.S. Affordable Housing Fund specifically targets properties for residents earning less than 80% of the area’s median income. This investment by CalPERS is a positive sign for renters struggling to find quality, affordable housing options.
Looking to invest in your community? The growing focus on affordable housing presents a unique opportunity. While Aperti Fi doesn’t provide investment advice, we can keep you informed on the latest trends and resources.