Real estate investment manager Nuveen Real Estate invested in a vertically integrated self-storage platform, MyPlace.
Nuveen Real Estate has more than $154B of assets under management.
MyPlace plans to focus on secondary markets across the Midwest, Sunbelt, and Mountain West with limited self-storage supply.
- Nuveen and MyPlace started acquiring assets together in 2022 and have ~$300M of assets under management.
- MyPlace is founded by Kurt O'Brien, who has worked with investors such as Brookfield, Blackstone, GE Capital, and Oaktree.
- The partnership aims to have around $1B worth of assets under management over the next two years.
