Private company
Nuveen Global Cities REIT, Inc.
American real estate investment trust, incorporated in Maryland1
In its 2026 annual report the company says: “Nuveen Global Cities REIT, Inc. is a Maryland corporation formed on May 1, 2017. We invest in properties in or around certain global cities selected for their resilience, long-term structural performance and ability to deliver an attractive and stable distribution yield. We are externally managed by our advisor, Nuveen Real Estate Global Cities Advisors, LLC, an investment advisory affiliate of Nuveen Real Estate.”5 It is headquartered in New York, New York.1
Last updated Oct 20, 2026.
Overview
- IndustryReal Estate Investment Trusts1
- HeadquartersNew York, New York1
- Incorporated inMD3
- Business address730 Third Avenue, 3Rd Floor, New York, Ny 100173
- Filer categoryNon-accelerated filer3
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The words “we,” “us” and “our” refer to Nuveen Global Cities REIT, Inc., together with its consolidated subsidiaries, including Nuveen Global Cities REIT OP, LP (the “Operating Partnership”), a Delaware limited partnership of which we are the general partner, unless the context requires otherwise.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$211.6M
- Income tax0¢$400.0K
Out of $212.0M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Dividends paid20¢$65.9M
- Share buybacks80¢$268.2M
Out of $74.5M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $15.9M6 | $32.3M7 | $39.2M8 | $58.5M9 | $130.7M10 | $201.9M2 | $206.2M2 | $212.0M2 |
| Operating expenses | $59.8M9 | $141.3M10 | $184.4M2 | $180.0M2 | $185.8M2 | |||
| Operating income | $10.4M6 | $65.3M9 | $60.5M10 | $143.2M2 | $154.2M2 | $144.6M2 | ||
| Interest | $434.0K11 | $4.5M7 | $3.8M8 | $4.7M9 | $16.8M9 | $39.8M9 | ||
| Income tax | $06 | $400.0K9 | $700.0K10 | $400.0K2 | ||||
| Net income | -$5.2M11 | $5.7M7 | $725.0K8 | $19.1M9 | -$54.1M10 | -$12.8M2 | -$1.6M2 | -$9.6M2 |
| Earnings per share | $0.028 | $0.299 | -$0.3610 | -$0.072 | -$0.012 | -$0.052 | ||
| Earnings per share (diluted) | $0.028 | $0.299 | -$0.3610 | -$0.072 | -$0.012 | -$0.052 | ||
| Shares (weighted, basic) | 65.7M shares9 | 151.8M shares10 | 180.8M shares2 | 180.0M shares2 | 192.0M shares2 | |||
| Shares (weighted, diluted) | 65.7M shares9 | 151.8M shares10 | 180.8M shares2 | 180.0M shares2 | 192.0M shares2 |
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash | $5.6M11 | $5.6M7 | $9.7M8 | $36.2M9 | $43.1M10 | $27.6M2 | $22.5M2 | $44.6M2 |
| Intangible assets | $57.5M8 | $123.0M9 | $97.9M10 | $83.2M2 | $79.3M2 | |||
| Total assets | $376.8M15 | $507.5M11 | $586.5M7 | $1.5B8 | $2.7B9 | $2.6B10 | $2.6B2 | $2.7B2 |
| Long-term debt | $344.2M7 | |||||||
| Total liabilities | $88.0M15 | $191.2M11 | $209.7M7 | $517.1M8 | $829.4M9 | $869.6M10 | $945.3M2 | $991.7M2 |
| Retained earnings | -$64.0M8 | -$220.4M9 | -$351.9M10 | -$468.9M2 | -$597.8M2 | |||
| Shareholders’ equity | $288.9M7 | $316.3M11 | $623.0M7 | $980.0M8 | $1.8B9 | $1.7B10 | $1.6B2 | $1.7B2 |
| Shares outstanding | 180.0M shares2 | 179.5M shares2 | 184.9M shares2 | 200.1M shares2 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | $6.3M11 | $12.1M7 | $16.5M8 | $20.8M9 | $89.9M10 | $77.8M2 | $68.7M2 | $74.5M2 |
| Depreciation and amortization | $29.1M9 | $65.6M10 | $85.0M2 | $79.7M2 | $81.0M2 | |||
| Capital spending | $192.5M11 | $100.4M11 | $85.5M7 | $500.2M7 | ||||
| Free cash flow | -$186.2M | -$88.3M | -$69.0M | -$479.3M | ||||
| Cash from investing | -$777.0M9 | -$1.2B10 | -$28.2M2 | -$73.9M2 | -$245.8M2 | |||
| Dividends paid | $1.9M11 | $13.2M11 | $26.2M8 | $29.7M9 | $58.1M10 | $65.9M2 | $64.8M2 | $65.9M2 |
| Share buybacks | $011 | $104.0K7 | $1.9M8 | $2.9M9 | $50.7M10 | $334.4M2 | $280.5M2 | $268.2M2 |
| Cash from financing | $871.1M9 | $1.1B10 | -$71.6M2 | $7.5M2 | $192.3M2 |
Compare Nuveen Global Cities REIT, Inc. with another company
Corporate structure
Nuveen Global Cities REIT, Inc. sits at the top of its group. 114 entities, 6 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Nuveen Global Cities REIT, Inc.
- TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA Filed SCHEDULE 13G/A on Nuveen Global Cities REIT, Inc., latest Nov 12, 2025 (4 filings since Feb 14, 2022)
- Nuveen Global Cities REIT, Inc. New York, New York
- GC MP Imperial LLC Subsidiary · Delaware, United States
- GC MP Palm Bay LLC Subsidiary · Delaware, United States
- GCGR Tucson 5 LLC Subsidiary · Delaware, United States
- GFI Riverside, LLC Subsidiary · Delaware, United States
- Global Cities REIT Holding Company LLC Subsidiary · Delaware, United States
- Global Fairway, LLC Subsidiary · Delaware, United States
- Global North Bay, LLC Subsidiary · Delaware, United States
- Lake Cay Commons, LLC Subsidiary · Delaware, United States
- NR 1 National Street LLC Subsidiary · Delaware, United States
- NR 35 South BC LLC Subsidiary · Delaware, United States
- NR 610 Junction LLC Subsidiary · Delaware, United States
- NR 844 North LLC Subsidiary · Delaware, United States
- NR 9725 Datapoint Drive LLC Subsidiary · Delaware, United States
- NR Alliance Commerce Center LLC Subsidiary · Delaware, United States
- NR Alliance Gateway 15 LLC Subsidiary · Delaware, United States
- NR Alliance Gateway 22 LLC Subsidiary · Delaware, United States
- NR Alliance Gateway 62 LLC Subsidiary · Delaware, United States
- NR APCF Investor Ltd. Subsidiary · Cayman Islands
- NR Brookhill DC 3 LLC Subsidiary · Delaware, United States
- NR Brookson Flats LP Subsidiary · Delaware, United States
- NR Camp Creek I LLC Subsidiary · Delaware, United States
- NR Camp Creek II LLC Subsidiary · Delaware, United States
- NR Camp Creek III LLC Subsidiary · Delaware, United States
- NR Camp Creek IV LLC Subsidiary · Delaware, United States
- NR DBIC LLC Subsidiary · Delaware, United States
- and 88 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Nuveen Global Cities REIT, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Land and buildings | $361.3M2 Dec 31, 2025 | $324.5M2 Dec 31, 2024 | +11.3% |
| Finance-lease assets | $2.3M2 Dec 31, 2025 | $2.4M2 Dec 31, 2024 | −2.3% |
| Operating-lease assets (leased space) | $2.0M2 Dec 31, 2025 | $2.0M2 Dec 31, 2024 | −1.7% |
Real estate and locations
| Item | Latest | A year before | Change |
|---|---|---|---|
| Real estate investments, net | $1.8B2 Dec 31, 2025 | $1.7B2 Dec 31, 2024 | +3.5% |
| Real estate investments, at cost | $2.1B2 Dec 31, 2025 | $1.9B2 Dec 31, 2024 | +6.4% |
| Real estate accumulated depreciation | $270.0M2 Dec 31, 2025 | $207.5M2 Dec 31, 2024 | +30.2% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $44.6M2 Dec 31, 2025 | $22.5M2 Dec 31, 2024 | +97.6% |
| Debt securities held to maturity | $141.1M2 Dec 31, 2025 | $105.5M2 Dec 31, 2024 | +33.7% |
| Equity securities at fair value | $102.8M2 Dec 31, 2025 | $103.5M2 Dec 31, 2024 | −0.7% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $79.3M2 Dec 31, 2025 | $83.2M2 Dec 31, 2024 | −4.7% |
| Finite-lived intangibles, gross | $195.1M2 Dec 31, 2025 | $178.4M2 Dec 31, 2024 | +9.4% |
| Accumulated amortization | $115.9M2 Dec 31, 2025 | $95.3M2 Dec 31, 2024 | +21.6% |
| Finite-lived intangibles, net | $79.3M2 Dec 31, 2025 | $83.2M2 Dec 31, 2024 | −4.7% |
Properties, in its own words
For an overview of our real estate investments, see Item 7 - “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Portfolio.”
Item 2 of the 10-K filed Mar 20, 2026.5
Leadership
Who has led Nuveen Global Cities REIT, Inc., and when. Pick a name to see everywhere that person has worked.
Board members and other officers (20)
- OfficerHalley Sara Cunn Apr 15, 2025 to now17
- OfficerChad Weatherford Phillips Apr 17, 2025 to now18
- Vice President - Asia PacificCarsten Kebbedies Apr 1, 2024 to Apr 1, 202419
- Vice President - EuropeElizabeth A. Wagner Apr 1, 2024 to Apr 1, 202420
- OfficerRobert Redican Apr 18, 2024 to Apr 18, 202421
- Head of Global TransactionsCarly Tripp Mar 28, 2022 to Mar 28, 202222
- Vice PresidentGracie Coburn Mar 28, 2022 to Mar 28, 202223
- Chief Investment OfficerShawn Lese Mar 28, 2022 to Mar 28, 202224
- Head of Strategic InsightAbigail Lewis Apr 30, 2021 to Apr 30, 202125
- OfficerAustin H. Mitchell Apr 30, 2021 to Apr 30, 202126
- OfficerG. Christopher McGibbon Apr 30, 2021 to Apr 30, 202127
- OfficerJames E. Sinople Apr 30, 2021 to Apr 30, 202128
- OfficerMichael Jl Sales Apr 30, 2021 to Apr 30, 202129
- Head of Portfolio ManagementRichard M. Kimble Apr 30, 2021 to Apr 30, 202130
- OfficerTimothy Sg Horrocks Apr 30, 2021 to Apr 30, 202131
- Board memberDonna Brandin Apr 30, 2021 to now32
- Board memberJohn L. Maccarthy Apr 30, 2021 to now33
- Board memberMichael A. Perry Apr 30, 2021 to Apr 30, 202134
- Board memberMichael Jl Sales Apr 30, 2021 to Apr 30, 202129
- Board memberSteven R. Hash Apr 30, 2021 to now35
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- GC MP Imperial LLC Delaware4
- GC MP Palm Bay LLC Delaware4
- GCGR Tucson 5 LLC Delaware4
- GFI Riverside, LLC Delaware4
- Global Cities REIT Holding Company LLC Delaware4
- Global Fairway, LLC Delaware4
- Global North Bay, LLC Delaware4
- Lake Cay Commons, LLC Delaware4
- NR 1 National Street LLC Delaware4
- NR 35 South BC LLC Delaware4
- NR 610 Junction LLC Delaware4
- NR 844 North LLC Delaware4
- NR 9725 Datapoint Drive LLC Delaware4
- NR APCF Investor Ltd. Cayman Islands4
- NR Alliance Commerce Center LLC Delaware4
- NR Alliance Gateway 15 LLC Delaware4
- NR Alliance Gateway 22 LLC Delaware4
- NR Alliance Gateway 62 LLC Delaware4
- NR Brookhill DC 3 LLC Delaware4
- NR Brookson Flats LP Delaware4
- NR Camp Creek I LLC Delaware4
- NR Camp Creek II LLC Delaware4
- NR Camp Creek III LLC Delaware4
- NR Camp Creek IV LLC Delaware4
All 114 listed subsidiaries
- NR DBIC LLC Delaware4
- NR Defoor Hills LLC Delaware4
- NR Denver Industrial Portfolio LLC Delaware4
- NR ECF Investor Ltd Cayman Islands4
- NR East Sego Lily LLC Delaware4
- NR Eastport 8 LLC Delaware4
- NR FLGP Investor Member LLC Delaware4
- NR Federal North LLC Delaware4
- NR GCREIT APAC Holdings Pte Ltd Singapore4
- NR GCREIT Denmark ApS Denmark4
- NR GCREIT JP TMK Japan4
- NR GCREIT Langen S.à.r.l. Luxembourg4
- NR GCREIT Lux HoldCo Luxembourg4
- NR GCREIT Master HoldCo S.à.r.l. Luxembourg4
- NR GFI FLGP Venture LLC Delaware4
- NR Globe Street Industrial LLC Delaware4
- NR Hartwell Village Investor Member LLC Delaware4
- NR Hembree Park Drive LLC Delaware4
- NR Henderson 215 LLC Delaware4
- NR Henderson Square Owner LLC Delaware4
- NR Kirkland Crossing LLC Delaware4
- NR MLK LLC Delaware4
- NR MOB 1335 North Mill Street LLC Delaware4
- NR MOB 1429 Highway 6 LLC Delaware4
- NR MOB 1429 Highway 6 Member LLC Delaware4
- NR MOB 2945 Wilderness Place LLC Delaware4
- NR MOB 2945 Wilderness Place Member LLC Delaware4
- NR MOB 4600 Bill Gardner Parkway LLC Delaware4
- NR MOB 620 Roseville LLC Delaware4
- NR MOB 620 Roseville Member LLC Delaware4
- NR MOB Bucks Town II LLC Delaware4
- NR MOB Bucks Town LLC Delaware4
- NR MOB Bucks Town Member LLC Delaware4
- NR MP CP Holding Company LLC Delaware4
- NR MP CP TRS LLC Delaware4
- NR MP CP Venture Investor Member LLC Delaware4
- NR MP CP Venture LLC Delaware4
- NR Main Street At Kingwood LLC Delaware4
- NR Massachusetts REIT Member LLC Delaware4
- NR McKinney POB I LLC Delaware4
- NR McKinney POB II LLC Delaware4
- NR McMullen LLC Delaware4
- NR Mid Cities Parkway LLC Delaware4
- NR Mountain View Industrial Center LLC Delaware4
- NR Perimeters Edge LP Delaware4
- NR Pine Forest 18 LLC Delaware4
- NR Pineway Business Center LLC Delaware4
- NR Reserve at Stonebridge LLC Delaware4
- NR SN Arizona A, LLC Delaware4
- NR SN Florida A, LLC Delaware4
- NR SN Georgia A, LLC Delaware4
- NR SN NC A, LLC Delaware4
- NR SN Tennessee A, LLC Delaware4
- NR SN Texas A, LLC Delaware4
- NR San Antonio Industrial Building LLC Delaware4
- NR Short Pump Owner LLC Delaware4
- NR Sparrow Realty I, LLC Delaware4
- NR Sparrow Realty Managing Member I, LLC Delaware4
- NR Sullivan ATL Holdco LLC Delaware4
- NR Sullivan TX Holdco LLC Delaware4
- NR Tacara at Steiner Ranch LLC Delaware4
- NR Tampa Crenshaw LLC Delaware4
- NR Tampa Gateway Lakes LLC Delaware4
- NR Tampa Lakeland Interstate LLC Delaware4
- NR Tampa Medical LLC Delaware4
- NR The Canyons LLC Delaware4
- NR Train Court LLC Delaware4
- NR West 11th Street DC LLC Delaware4
- NR Westport Parkway 4 LLC Delaware4
- NR Westside 287 LLC Delaware4
- NR Wilsonville Logistics Center LLC Delaware4
- NREX Depositor LLC Delaware4
- NREX Master Lessee I LLC Delaware4
- NRNX MOB 1429 Highway 6 Venture LLC Delaware4
- NRNX MOB 2945 Wilderness Place Venture LLC Delaware4
- NRNX MOB 620 Roseville Venture LLC Delaware4
- NRNX MOB Bucks Town II Venture LLC Delaware4
- NRNX MOB Bucks Town Venture LLC Delaware4
- NRP Hartwell Village LLC Delaware4
- NRP Hartwell Village Owner LLC Delaware4
- Nuveen Global Cities REIT LP, LLC Delaware4
- Nuveen Global Cities REIT Lending LLC Delaware4
- Nuveen Global Cities REIT OP, LP Delaware4
- Nuveen Global Cities REIT Subsidiary GP LLC Delaware4
- Nuveen Real Estate Exchange I DST Delaware4
- Nuveen Real Estate Exchange LLC Delaware4
- Nuveen Real Estate Exchange TRS, LLC Delaware4
- Stoneybrook West, LLC Delaware4
- Søsvinget ApS Denmark4
- Union Property Operations NRE IV LLC Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Sep 22, 20268-K Regulation FD disclosure36
- Aug 21, 20268-K Regulation FD disclosure37
- Jul 23, 20268-K Regulation FD disclosure38
- Jul 8, 20268-K Regulation FD disclosure39
- Jun 29, 20268-K Shareholder vote40
- Jun 22, 20268-K Regulation FD disclosure41
- May 20, 20268-K Regulation FD disclosure42
- Apr 22, 20268-K Regulation FD disclosure43
- Mar 23, 20268-K Regulation FD disclosure44
- Feb 20, 20268-K Regulation FD disclosure45
- Jan 22, 20268-K Regulation FD disclosure46
- Dec 22, 20258-K Regulation FD disclosure47
Filings
375 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 81 major events, 68 insider forms, 4 large holders, 201 other. The latest 20:
- Sep 22, 20268-K EDGAR
- Sep 16, 2026424B3 EDGAR
- Sep 16, 2026POS EX EDGAR
- Aug 21, 20268-K EDGAR
- Aug 17, 2026424B3 EDGAR
- Aug 17, 2026POS EX EDGAR
- Aug 13, 202610-Q EDGAR
- Jul 23, 20268-K EDGAR
- Jul 17, 2026424B3 EDGAR
- Jul 17, 2026POS EX EDGAR
- Jul 8, 20268-K EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jul 6, 20264 EDGAR
- Jun 29, 20268-K EDGAR
- Jun 22, 20268-K EDGAR
- Jun 15, 2026424B3 EDGAR
- Jun 15, 2026POS EX EDGAR
The 375 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
18 open-market trades by officers, directors and large owners since October 2021: 5 buys and 13 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 4, 2026 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 427,716 | $11.69 | $5.0M | Form 4 |
| Feb 2, 2026 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 425,894 | $11.74 | $5.0M | Form 4 |
| Jan 2, 2026 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 423,729 | $11.80 | $5.0M | Form 4 |
| Oct 31, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 419,111 | $11.93 | $5.0M | Form 4 |
| Sep 30, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 1,673,640 | $11.95 | $20.0M | Form 4 |
| Aug 29, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 418,410 | $11.95 | $5.0M | Form 4 |
| Jul 31, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 418,410 | $11.95 | $5.0M | Form 4 |
| Jul 1, 2025 | MacCarthy John LDirector | Buy | 21,739 | $11.50 | $250.0K | Form 4 |
| Jun 30, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 417,711 | $11.97 | $5.0M | Form 4 |
| May 30, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 418,760 | $11.94 | $5.0M | Form 4 |
| Apr 30, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 417,014 | $11.99 | $5.0M | Form 4 |
| Mar 31, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 415,282 | $12.04 | $5.0M | Form 4 |
| Feb 28, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 414,250 | $12.07 | $5.0M | Form 4 |
| Jan 31, 2025 | TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICA10% owner | Sale | 414,250 | $12.07 | $5.0M | Form 4 |
| Jul 1, 2024 | MacCarthy John LDirector | Buy | 1,385 | $11.73 | $16.2K | Form 4 |
| Jul 3, 2023 | MacCarthy John LDirector | Buy | 1,321 | $12.30 | $16.2K | Form 4 |
| Apr 1, 2022 | MacCarthy John LDirector | Buy | 1,276 | $12.74 | $16.2K | Form 4 |
| Oct 1, 2021 | PARSONS ROBERT E JRDirector | Buy | 6,438 | $11.65 | $75.0K | Form 4 |
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- TEACHERS INSURANCE & ANNUITY ASSOCIATION OF AMERICASCHEDULE 13G/A, 4 filings Feb 14, 2022 to Nov 12, 202548
SEC filer profile
How Nuveen Global Cities REIT, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARNuveen Global Cities REIT, Inc.1
- CIK0001711799
- Employer ID (EIN)82-14192225
- Filer statusNon-accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inMaryland5
- Fiscal year endsDecember 311
- Industry code (SIC)6798 Real Estate Investment Trusts1
- SEC reviewing officeOffice of Real Estate & Construction, Division of Corporation Finance1
- Business address730 Third Avenue, 3Rd Floor, New York, NY 100171
- Phone212-490-90001
- Shares outstanding11,729,524 Common Class T shares; 47,894,924 Common Class S shares; 7,405,823 Common Class D shares; 113,292,244 Common Class I shares; 23,454,145 Common Class N shares as of Mar 20, 20265
- Public float$0 as of Jun 30, 202549
- AuditorPricewaterhouseCoopers LLP, Charlotte, North Carolina PCAOB ID 238; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceJul 27, 20171
- Filings601 in all: 424B3 (145), 8-K (124), POS EX (115), 4 (53), 10-Q (26), 3 (24), DEFA14A (17), EFFECT (15)1
All 30 form types
POS AM (13), UPLOAD (10), 10-K (9), CORRESP (8), 4/A (7), DEF 14A (5), 8-K/A (4), ARS (4), S-11/A (4), DRSLTR (3), S-11 (3), SCHEDULE 13G/A (2), 10-K/A (1), 3/A (1), 424B5 (1), 8-A12G (1), D (1), DRS (1), DRS/A (1), NT 10-K (1), SC 13G (1), SC 13G/A (1)
- Latest filingsAnnual report (10-K) Mar 20, 2026
Quarterly report (10-Q) Aug 13, 2026
Proxy statement (DEF 14A) Apr 9, 2026
Latest 8-K (8-K) Sep 22, 2026
Risk factors and legal proceedings
The risks Nuveen Global Cities REIT, Inc. names in Item 1A of its 10-K filed Mar 20, 2026: 77 risks under these headings, as written.5
- Risks Related to Our Organizational Structure
- We have held several of our current investments for only a limited period of time and you will not have the opportunity to evaluate our future investments before we make them, and we may not have the opportunity to evaluate or approve investments made by entities in which we invest, such as the International Affiliated Funds, which makes your investment more speculative.
- We have incurred net losses under GAAP in the past and may incur net losses in the future, and we have an accumulated deficit and may continue to have an accumulated deficit in the future.
- There is no public trading market for shares of our common stock; therefore, your ability to dispose of your shares will likely be limited to repurchase by us. If you do sell your shares to us, you may receive less than the price you paid.
- Your ability to have your shares repurchased through our share repurchase plan is limited. We may choose to repurchase fewer shares than have been requested to be repurchased, in our discretion at any time, and the number of shares we may repurchase is subject to caps. Further, our board of directors may modify, or suspend our share repurchase plan if it deems such action to be in our best interest and the best interest of our stockholders.
- Economic events that may cause our stockholders to request that we repurchase their shares may materially adversely affect our cash flow and our results of operations and financial condition.
- Our share repurchase program requires that we follow certain restrictive procedures with respect to new investments if, during any consecutive 24-month period, we do not have at least one month in which we fully satisfy 100% of properly submitted repurchase requests or accept all properly submitted tenders in a self-tender offer for our shares, which may adversely affect our flexibility and our ability to achieve our investment objectives.
- The amount and source of distributions we may make to our stockholders is uncertain, and we may be unable to generate sufficient cash flows from our operations to make distributions to our stockholders at any time in the future.
- We may pay distributions from sources other than our cash flow from operations, including the sale of assets, borrowings or offering proceeds, and we have no limits on the amounts we may pay from such sources.
- We are dependent on Nuveen Real Estate and its affiliates, including the Advisor, and their key personnel who provide services to us, and we may not find a suitable replacement for the Advisor if the Advisory Agreement is terminated, or for these key personnel if they leave Nuveen Real Estate or otherwise become unavailable to us.
- The Advisor manages our portfolio pursuant to very broad investment guidelines and generally is not required to seek the approval of our board of directors for each investment, financing or asset allocation decision, which may result in our making riskier investments and which could adversely affect our results of operations and financial condition.
- Purchases and repurchases of shares of our common stock are not made based on the current NAV per share of our common stock.
The other 66 risks
- Valuations and appraisals of our properties and real estate-related assets are estimates of fair value and may not necessarily correspond to realizable value.
- Our NAV per share amounts may change materially if the appraised values of our properties materially change from prior appraisals or the actual operating results for a particular month differ from what we originally budgeted for that month.
- It may be difficult to reflect, fully and accurately, material events that may impact our monthly NAV.
- NAV calculations are not governed by governmental or independent securities, financial or accounting rules or standards.
- Our board of directors may, in the future, adopt certain measures under Maryland law without stockholder approval that may have the effect of making it less likely that a stockholder would receive a “control premium” for his or her shares.
- Our charter permits our board of directors to authorize us to issue preferred stock ranking senior to our current common stock with respect to distribution rights or rights upon our liquidation, dissolution or winding up or on terms that may discourage a third party from acquiring us.
- Maryland law limits, in some cases, the ability of a third party to vote shares acquired in a “control share acquisition.”
- Maryland law and our organizational documents limit our rights and the rights of our stockholders to recover claims against our directors and officers, which could reduce your and our recovery against them if they cause us to incur losses.
- Maryland law and our organizational documents limit our stockholders’ ability to amend our charter or dissolve us without the approval of our board of directors.
- Your interest in us will be diluted if we issue additional shares. Your interest in our assets will also be diluted if the Operating Partnership issues additional units.
- If you purchase shares of common stock in this offering, you may experience immediate dilution in the net
- tangible book value per share.
- Our UPREIT structure may result in potential conflicts of interest with limited partners in the Operating Partnership whose interests may not be aligned with those of our stockholders.
- Your investment return may be reduced if we are required to register as an investment company under the Investment Company Act of 1940, as amended (the “Investment Company Act”).
- The Advisor is not registered and does not intend to register as an investment adviser under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). If the Advisor is required to register as an investment adviser under the Advisers Act, it could impact our operations and possibly reduce your investment return.
- Operational risks, including the risk of cyberattacks, may disrupt our businesses, result in losses or limit our growth.
- Compliance with the SEC’s Regulation Best Interest by participating broker-dealers may negatively impact our ability to raise capital in this Offering, which would harm our ability to achieve our investment objectives.
- Risks Related to Investments in Real Estate
- Our operating results will be affected by economic and regulatory changes that impact the real estate market in general.
- Our success is dependent on general market and economic conditions.
- Our portfolio is currently concentrated in certain asset types and geographies and may in the future be concentrated in a limited number of asset types, geographies or investments.
- We may change our investment and operational policies or our investment guidelines without stockholder consent.
- Any indirect investment we make, including in the International Affiliated Funds, will be consistent with the investment objectives and policies described in our prospectus and will, therefore, be subject to similar business and real estate risks.
- We face significant competition in acquiring properties.
- We may have difficulty selling our properties, which may limit our flexibility and ability to pay distributions.
- We may make a substantial amount of joint venture investments, including with Nuveen’s affiliates and Other Nuveen Real Estate Accounts. Joint venture investments could be adversely affected by our lack of sole decision-making authority, our reliance on the financial condition of our joint venture partners and disputes between us and our joint venture partners.
- Our ability to redeem all or a portion of our investments in the International Affiliated Funds is subject to significant restrictions.
- In our due diligence review of potential investments, we may rely on third-party consultants and advisors, as well as certain of our joint venture partners, and representations made by sellers of potential portfolio properties, and we or those we rely upon may not identify all relevant facts that may be necessary or helpful in evaluating potential investments.
- We depend on tenants for our revenue, and therefore our revenue depends on the success and economic viability of our tenants. Our reliance on single or significant tenants in certain buildings may decrease our ability to lease vacated space.
- We may be unable to renew leases as they expire.
- Our properties face significant competition.
- Our properties may be leased at below-market rates under long-term leases.
- Insurance may not cover all losses which may adversely affect us.
- We could become subject to liability for environmental violations, regardless of whether we caused such violations.
- Our properties are, and any properties we acquire in the future will be, subject to property taxes that may increase in the future, which could adversely affect our cash flow.
- We face risks in effecting operating improvements.
- We could be negatively impacted by the condition of Fannie Mae or Freddie Mac and by changes in government support for multifamily housing.
- Increased levels of unemployment could adversely affect the occupancy and rental rates of our multifamily properties.
- If any credit market disruptions or economic slowdowns occur, any investments in multifamily properties may face increased competition from single-family homes and condominiums for rent, which could limit our ability to retain residents, lease apartment units or increase or maintain rents.
- Many factors affect the single-family housing rental market, and we may be negatively affected by the general conditions of the single-family housing rental market.
- We may be adversely affected by trends in the office real estate industry.
- Our retail tenants face competition from numerous retail channels.
- The healthcare industry is heavily regulated and new laws or regulations, changes to existing laws or regulations, loss of licensure, failure to obtain licensure or other industry developments could result in the inability of the tenants of our healthcare properties to pay rent.
- Our healthcare properties and tenants may be unable to compete successfully due to increased competition and disruptions.
- Any investments in life sciences properties are subject to unique risks.
- Our self-storage investments are subject to risks from fluctuating demand and competition in the self-storage industry.
- Rising inflation may adversely affect our financial condition and results of operations.
- High interest rates could impact the value of our investments.
- Risks Related to Investments in Real Estate-Related Assets
- We invest in equity of other REITs and other real estate-related companies, which subjects us to certain risks including those risks associated with an investment in our own common stock.
- We may make open market purchases or invest in publicly traded real estate-related securities.
- The operating and financial risks of issuers and borrowers, and the underlying default risk across capital structures, may adversely affect our results of operations and financial condition.
- Some of our real estate-related securities investments may become distressed, which securities would have a high risk of default and may be illiquid.
- Our investments in debt backed principally by real estate face a number of general market-related risks that can affect the creditworthiness of issuers and worsening economic conditions could increase the default risk.
- Investments in real estate-related assets may be subject to risks including various creditor risks and early redemption features which may materially adversely affect our results of operations and financial condition.
- We may invest in debt backed principally by real estate that is non-recourse in nature and includes limited options for financial recovery in the event of default; an event of default may adversely affect our results of operations and financial condition.
- Our investments in debt backed principally by real estate face prepayment risk and interest rate fluctuations that may adversely affect our results of operations and financial condition.
- We may invest in subordinated debt, which is subject to greater credit risk than senior debt.
- We may face risks related to our investments in mezzanine loans.
- Certain risks associated with CMBS may adversely affect our results of operations and financial condition.
- There are certain risks associated with the insolvency of obligations backing CMBS and other investments.
- There are certain risks associated with CMBS interest shortfalls.
- Concentrated CMBS investments may pose specific risks beyond the control of the Advisor that may adversely affect our results of operations and financial condition.
- We may invest in structured products that may include structural and legal risks.
- We will face risks related to investments in collateralized debt obligations.
- We may acquire and sell residential credit investments, which may subject us to legal, regulatory and other risks that could adversely impact our business and financial results.
- We may face risks associated with hedging transactions.
- Failure to obtain and maintain an exemption from being regulated as a commodity pool operator could subject us to additional regulation and compliance requirements that could materially adversely affect our business, results of operations and financial condition.
Legal proceedings
Neither we nor the Advisor is currently involved in any material litigation.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARHalley Sara Cunn, Officer
- 18SEC EDGARChad Weatherford Phillips, Officer
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- 21SEC EDGARRobert Redican, Officer
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- 23SEC EDGARGracie Coburn, Vice President
- 24SEC EDGARShawn Lese, Chief Investment Officer
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- 26SEC EDGARAustin H. Mitchell, Officer
- 27SEC EDGARG. Christopher McGibbon, Officer
- 28SEC EDGARJames E. Sinople, Officer
- 29SEC EDGARMichael Jl Sales, Officer
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- 31SEC EDGARTimothy Sg Horrocks, Officer
- 32SEC EDGARDonna Brandin, Board member
- 33SEC EDGARJohn L. Maccarthy, Board member
- 34SEC EDGARMichael A. Perry, Board member
- 35SEC EDGARSteven R. Hash, Board member
- 36SEC EDGARRegulation FD disclosure
- 37SEC EDGARRegulation FD disclosure
- 38SEC EDGARRegulation FD disclosure
- 39SEC EDGARRegulation FD disclosure
- 40SEC EDGARShareholder vote
- 41SEC EDGARRegulation FD disclosure
- 42SEC EDGARRegulation FD disclosure
- 43SEC EDGARRegulation FD disclosure
- 44SEC EDGARRegulation FD disclosure
- 45SEC EDGARRegulation FD disclosure
- 46SEC EDGARRegulation FD disclosure
- 47SEC EDGARRegulation FD disclosure
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