Nuveen Real Estate has appointed Workman to three property management contracts with assets under management comprising circa £620m and 72 assets, with more than 400 underlying tenants, as reported by EG.
Nuveen Real Estate’s UK Balanced Funds team has appointed Workman to provide property management services for the 72 multi-sector assets. Workman will ensure Nuveen Real Estate receives best-in-class property management services. This includes operational support and exemplary information and reporting functions.
Nuveen chose Workman’s property management team for its strong track record and capability in all core property management areas. The selection process placed a key focus on the commitment to tenant wellbeing and engagement initiatives along with expertise in ESG and sustainability standards.
Nuveen aims to achieve Net Zero Carbon by 2040. In line with this goal, the three strategies actively dedicate themselves to generating a comprehensive ESG impact across the portfolios through GRESB.
Gavin Halliday, Partner at Workman, said: “We are excited to start working for Nuveen Real Estate on these three funds. The nature of these assets provides us with an opportunity to showcase our consistently robust property management proficiency. We can collaborate and make significant progress on GRESB and other ESG initiatives with our expertise.”
Manreet Randhawa, Director at Nuveen Real Estate, said: “We are delighted to appoint Workman to manage these three strategies. The ESG requirements will only be achievable via a strong collaborative effort between our internal teams and the managing agent. I know Workman’s Property Management team has extensive experience in this area. look forward to working with Gavin’s team.”
Workman commenced providing property management services from 1st November 2022.