NEW YORK, NY – Nuveen, the $1.1 trillion asset manager of TIAA, is acquiring a portfolio of assets from Omni Holding Company, a leading owner, operator and developer of affordable housing nationwide.
The Omni transaction positions Nuveen as one of the nation’s largest institutional managers of much-needed affordable housing. The deal increases the value of Nuveen’s affordable housing assets under management (AUM) to $6.4 billion and builds on the firm’s long history of responsible investing and stewardship in pursuit of attractive long-term returns for investors. Financial terms of the transaction were not told.
The acquisition of Omni also significantly expands Nuveen’s scope in affordable housing as the firm continues to preserve existing affordable housing units and protect at-risk units from market-rate conversion so residents can remain in their homes. Nearly all of Nuveen’s impact housing portfolio serves low-income residents earning 60% of area median income (AMI) or less.
“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.”
Nuveen is managing this newly bought portfolio of assets for the TIAA General Account (GA) and for the benefit of retirement plot participants. Affordable housing is an vital part of the GA’s impact investing strategy and is well suited to the GA’s diversified portfolio, which is built to deliver predictable returns over the long term.
Founded in 2004, Omni has bought, rehabilitated or built 94 projects in the U.S. with more than 19,000 affordable housing units. The Omni portfolio is largely concentrated in the New York metro area, with more than 10,000 units located in the Bronx, Brooklyn, Queens, Manhattan, Long Island, and Newark, N.J.
“Our goal is to meaningfully invest in the preservation and expansion of high-quality affordable housing to support the well-being of rent-burdened residents within local communities,” said Pamela West, Senior Portfolio Manager of Impact Investing at Nuveen Real Estate. “With the Omni transaction, we can develop and manage properties across the U.S. and achieve the desired outcomes for residents and investors.”
With extensive experience investing in U.S. affordable housing dating back to 1992, Nuveen’s transaction with Omni comes amid a shortage of quality affordable housing and deepens the firm’s dedication to advancing change through impact investing.
The lack of affordable housing is a major economic and societal challenge, particularly as rent inflation outpaces income growth for mid- to low-income earners and the housing supply deficit continues into its second decade. Nearly half of U.S. renters are rent-burdened, meaning they are paying more than 30% of their income toward rent. Within this rent-burdened demographic, one in four renters are severely rent-burdened, meaning they pay more than 50% of their income toward rent.
“Demand for more affordable housing is intensifying nationwide, and investors increasingly are attuned to emerging opportunities to invest in housing that benefits society and also produces long-term positive and predictable performance,” said West.
As part of the transaction, Nuveen will buy Omni’s best-in-class affordable housing capabilities in development, construction, maintenance, safety-technology and corporate functions to make an enhanced, vertically integrated affordable housing asset management business for Nuveen.
Over the last decade, Nuveen has invested substantially in affordable housing on behalf of the TIAA GA and third-party clients. As a result of the transaction and pending approvals of other related acquisitions, the TIAA GA is expected to own 161 affordable housing investments with approximately 32,000 units across 24 states valued at $6.4 billion.

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AUSTIN, TX – Trinity Street Capital Partners announced the origination of a $110 million bridge loan for a multifamily community in Austin, Texas. The property had (656) one-bedroom and (184) two-bedroom garden-style units on a 29.1 acre campus in North Austin, with brilliant visibility from I- 35. Amenities at the complex include a clubhouse, pool, gym, basketball court, playground, on-site leasing office and dog park.
Austin is the capital city of Texas, founded 1839 and is the 11th-most-populous city in the United States, the fourth-most-populous city in Texas. As of 2021, Austin had an estimated population of 964,177, and the city is the cultural and economic center of the Austin–Round Rock metropolitan statistical area, which had an estimated population of 2.3MM (2020), a roughly 84% increase from the year 2000.
A number of Fortune 500 companies have headquarters or regional offices in Austin, including 3M, Advanced Micro Devices (AMD), Amazon, Apple, Facebook (Meta), Google, IBM, Intel, NXP Semiconductors, Oracle, Tesla, Texas Instruments, Dell and Whole Foods Market. With regard to education, Austin is the home of the University of Texas at Austin, which is one of the largest universities in the U.S., with over 50,000 students.
According to a senior underwriter at Trinity Street, “The firm has stepped up to support the US commercial real estate markets in the mitts of a major upheaval, due to rising interest rates and an uncertain economic landscape. The recent collapse of Silicon Valley Bank, Signature Bank and First Republic, will make the private lending institutions that much more critical to the commercial real estate markets. TSCP underwriting process takes a deep dive into property economics, market statistics and sponsorship, which allows TSCP to provide financing for strong clients at aggressive rates and leverage points.”

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MCDONOUGH, GA – Leading multifamily real estate developer Wood Partners announced the official grand opening of its newest luxury residential property, Alta Bridges, located in McDonough, Georgia. To welcome residents, the community hosted an official ribbon cutting ceremony.
Located at 205 Bridges Road in historic McDonough, the newly opened community offers residents a taste of small town living less than an hour from bustling downtown Atlanta. With its close proximity to downtown McDonough, Alta Bridges residents have simple access to the town’s quaint shopping district and traditional Southern cuisine from local restaurants, as well as added entertainment and outdoor activities at nearby Atlanta Motor Speedway and Southern Belle Farm.
“We are very pleased to officially open Wood Partners’ first development in the McDonough area, Alta Bridges,” said Bennett Sands, Managing Director. “The luxury community offers a wide range of desirable amenities and on-site offerings to cater to the needs of our residents while also providing touches of the Southern charm McDonough is known for.”
Alta Bridges offers 250 apartment homes made up of one-, two- and three-bedroom floor plans, as well as surface parking and multiple detached garage spaces. Each unit features high quality interior packages including stainless steel appliances, farmhouse sinks with gooseneck faucets, granite countertops, vinyl wood flooring and full size in-unit washer and dryer sets.
The Alta Bridges community also boasts several high-end amenities for residents to delight in, including a resort-style pool with tanning ledges and a large sundeck, a poolside activity lawn with cornhole, outdoor firepits, multiple grilling stations and a pet park and spa. Additionally, residents have access to an on-site fitness center featuring virtual training and a private yoga room, a community co-working space with private micro-offices, an automated barista with complimentary coffee, and a club room with entertainment kitchen, lounge areas and an indoor fireplace.
“Alta Bridges aims to provide residents with a quaint community to call home through a perfect balance of small-town charm and luxury living,” added Sands. “With its location just south of downtown Atlanta, we know the property provides the perfect relaxing yet connected way of life for residents looking to place down roots outside of Atlanta.”

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