three recently built, Class A, light industrial buildingsIndustrial·Minneapolis, Brooklyn Park, and Burnsville, MNSEC filing, Jul 8, 2025
$58.7M
$1.1M
2%Filed Jul 8, 2025
Sold out
Chapter 4
Who is behind this record?
Nuveen sponsors Delaware statutory trust offerings through Nuveen Real Estate Exchange (NREX), a platform whose launch Nuveen announced on May 29, 2025, and whose DST interests are intended as Internal Revenue Code Section 1031 replacement property for accredited investors. Nuveen reported that Nuveen Real Estate Exchange I DST closed on July 8, 2026 as a $58.7 million trust holding three recently built Class A light-industrial buildings in two Minneapolis submarkets, fully leased to five tenants with an approximately four-year weighted average lease term. Nuveen identifies TIAA as its parent company, following TIAA-CREF's acquisition of Nuveen Investments, which closed on October 1, 2014.
Nuveen Real Estate Exchange (NREX) is Nuveen's Delaware statutory trust platform, offering DST interests intended to serve as Internal Revenue Code Section 1031 replacement property and limited to accredited investors1. Nuveen announced the launch of the 1031 Real Estate Exchange platform on May 29, 20252. Nuveen describes the structure as an exchange of eligible real estate for DST interests under Section 1031, with a potential later contribution under Section 721 and a conditional fair-market-value option for operating partnership units that is typically exercisable only after all DST holders have held their interests for at least two years and that may not be exercised1.
Nuveen Real Estate Exchange I DST
Nuveen reported that it closed Nuveen Real Estate Exchange I DST (NREX I), a $58.7 million Delaware statutory trust, on July 8, 20263. The NREX I portfolio was described as three recently built, Class A light-industrial buildings in two Minneapolis submarkets, fully leased to five tenants with an approximately four-year weighted average lease term3.
TIAA ownership
TIAA-CREF announced a purchase agreement to acquire Nuveen Investments on April 14, 2014 and closed the transaction on October 1, 2014, after which Nuveen Investments became an indirect subsidiary; Nuveen identifies TIAA as its parent company4.
Nuveen's $58.7M NREX I DST: The Real Deal BreakdownTrade-press analysis of Nuveen's NREX I DST closing, covering the three Minneapolis light-industrial buildings (405,756 sq ft on 28.33 acres, five tenants, ~4-year WALT) and the GCREIT/UPREIT optionality.
Nuveen Closes NREX I Delaware Statutory TrustNuveen announced the closing of the separate $58.7 million NREX I DST, backed by three Class A light-industrial buildings in two Minneapolis submarkets.
Nuveen Launches 1031 Real Estate Exchange PlatformNuveen announced a 1031 UPREIT program that lets investors convert qualifying property-sale proceeds into a DST interest that may be exchanged for Nuveen Global Cities REIT operating-partnership units.
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