Sell Nuveen Global Cities REIT Shares

Investment Overview

Nuveen Global Cities
REIT

Nuveen Global Cities REIT, Inc. is a public, non-listed real estate investment trust sponsored by Nuveen and focused on income-producing real estate in major global markets.

Its common stock is not listed for trading on a national securities exchange, so shareholders do not have access to continuous public-market liquidity.

Potential liquidity is generally evaluated through the company’s share repurchase program or, where permitted and appropriate, through a separately negotiated private transaction.

Investors considering liquidity should review the applicable share class, current NAV, purchase history, holding period, account registration, current issuer repurchase terms, and potential secondary market options for non-traded REIT shares.

Investment Snapshot

Nuveen Global Cities REIT At A Glance

Portfolio

Diversified Real Estate
Across Global Markets

Nuveen Global Cities REIT has historically invested across multiple property sectors and major population and economic centers.

Portfolio exposure may include multifamily, office, industrial, retail, and other income-producing real estate, with sector and geographic allocations changing over time.

Property occupancy, rent growth, tenant quality, market-specific conditions, lease rollover, capital expenditures, asset sales, financing costs, and foreign-exchange exposure can all influence company NAV.

These same factors may also affect the level of private-market buyer interest and the return a purchaser may require.

Current NAV

Understanding
Nuveen Global Cities REIT NAV

Nuveen Global Cities REIT publishes class-specific NAV and transaction-price information through issuer materials and SEC-filed disclosures.

NAV is an important issuer valuation reference because subscriptions and company-sponsored repurchases generally operate within the company’s NAV-based framework.

However, monthly or periodic NAV should not be interpreted as a guaranteed private-sale price or as an assurance that shares can be repurchased on demand.

A private purchaser may evaluate current NAV together with share class, transferability, position size, portfolio fundamentals, leverage, currency exposure, expected holding period, current issuer liquidity, and required investment return.

Share Repurchase Plan

Issuer-Sponsored Liquidity
Is Subject To Program Limits

Nuveen Global Cities REIT maintains a share repurchase program that may provide a potential source of liquidity for eligible shareholders.

Repurchase requests remain subject to the terms of the current plan, including applicable holding periods, share-class eligibility, timing requirements, available capacity, possible proration, liquidity needs, suspension provisions, and board discretion.

A shareholder submitting a repurchase request should therefore not assume that the request will necessarily be fulfilled in full or on the desired timetable.

The issuer repurchase program should be viewed as a limited liquidity mechanism rather than the equivalent of continuous exchange-traded liquidity.

Recent 2026 Repurchase Activity

Current Repurchase
Conditions Matter

Shareholders evaluating liquidity should review the most recent 2026 prospectus supplement, quarterly filing, or issuer disclosure for current repurchase activity and available capacity.

Relevant information may include the amount of shares requested for repurchase, the amount accepted, applicable limits, proration, and any changes to the program.

Historical fulfillment of repurchase requests does not guarantee that future requests will be accepted under the same conditions.

Current issuer liquidity should therefore be evaluated using the latest available disclosure rather than relying on prior-period activity alone.

Distributions

Distribution Income
And Liquidity Are Separate

Nuveen Global Cities REIT may make distributions to shareholders based on portfolio income, operating performance, financing requirements, and board approval.

Distribution history can be relevant when evaluating total return, but distributions should be analyzed separately from shareholder liquidity.

The payment of distributions does not establish a current secondary market value and does not guarantee recovery of invested capital or a sale at NAV.

Financial / Balance Sheet Update

Financial Condition
Can Influence Liquidity

The company’s latest quarterly and annual filings should be reviewed for property-level operating performance, asset values, liabilities, leverage, debt maturities, interest expense, cash resources, liquidity, and changes in NAV.

Realized and unrealized gains or losses, acquisitions, dispositions, financing activity, and changes in foreign-exchange exposure may also influence reported results and valuation.

These factors are important inputs to both issuer-sponsored liquidity and any private secondary-market assessment.

Secondary Market

Can Nuveen Global Cities REIT
Shares Be Sold?

Potentially. Nuveen Global Cities REIT shares are not listed on a national securities exchange, so investors generally cannot place a conventional public-market sell order.

Eligible shareholders may first evaluate the company’s share repurchase program.

If an investor is not eligible, encounters capacity limitations, seeks a different transaction structure, or wants to evaluate another potential exit pathway, a private secondary transaction may also be considered in certain circumstances.

A private transaction would be separate from the issuer’s repurchase program and may involve different pricing, transfer procedures, documentation, timing, and buyer underwriting.

Investors seeking additional background can review AIL’s guide to the non-traded REIT secondary market.

Valuation Considerations

What May Affect
Nuveen Global Cities REIT Share Value?

Current NAV

The company’s reported NAV provides an important issuer valuation reference, but it should be considered separately from any potential privately negotiated transaction price.

Share Class

Different share classes may have different fees, NAVs, distribution characteristics, and transaction terms. The specific class should be confirmed before evaluating a position.

Repurchase Availability

Current issuer liquidity may influence shareholder expectations and the level of demand available in a private transaction.

Portfolio Fundamentals

Occupancy, rent growth, leasing conditions, tenant quality, property values, sector exposure, geographic concentration, and asset-level operating performance may influence both NAV and private-market underwriting.

Debt And Interest Rates

Borrowing levels, interest expense, debt maturities, refinancing conditions, and leverage may affect future cash flow, asset values, distributions, and shareholder liquidity.

Foreign-Exchange Exposure

Investments across global markets may introduce currency-related considerations that can affect reported performance, asset values, and buyer underwriting.

Transferability

Transfer restrictions, account registration, custodian requirements, issuer approval procedures, and transaction documentation may affect whether a private transaction can be completed.

Secondary Market Demand

A private purchaser may consider position size, share class, transferability, current issuer liquidity, portfolio fundamentals, leverage, expected holding period, and required return when determining whether to pursue a transaction.

For additional context, see AIL’s guide on how to sell a non-traded REIT.

Documentation

Information Commonly
Requested For Review

A recent account statement is generally the most useful starting point when reviewing a Nuveen Global Cities REIT position.

The statement can help confirm the share class, number of shares, purchase history, account registration, custodian, ownership structure, and current reported value.

Additional documentation may include purchase confirmations, distribution records, issuer repurchase correspondence, subscription documents, transfer forms, or other ownership records.

Positions held through an IRA, trust, estate, partnership, LLC, or other entity may require additional documentation before a transfer can be evaluated.

Marketability Assessment

What Determines Whether
A Nuveen Position Can Be Reviewed?

Not every Nuveen Global Cities REIT position will necessarily require or qualify for a private secondary market transaction.

Shareholders who meet the issuer’s eligibility requirements may first consider the company’s share repurchase program.

A private liquidity review may become more relevant when an investor is not eligible for the issuer program, faces repurchase limitations, seeks a different transaction structure, or wants to evaluate available alternatives.

Marketability may depend on share class, purchase history, account registration, position size, transferability, current repurchase terms, available documentation, NAV, portfolio fundamentals, leverage, currency exposure, and private buyer demand.

Confidential Investment Review

Evaluate Your Nuveen
Liquidity Options

Alternative Investment Liquidity reviews Nuveen Global Cities REIT positions on a case-by-case basis to help determine what liquidity pathways may currently be available.

A review can consider share class, account registration, purchase history, current NAV, issuer repurchase eligibility, documentation, transferability, and potential private-market demand.

Requesting a review does not obligate an investor to sell and does not guarantee that a transaction will be available.

Investors, trustees, estate representatives, attorneys, financial professionals, and other authorized representatives can request a Confidential Investment Review.

Source References

Nuveen Global Cities REIT
Research Sources

This profile should be read together with Nuveen Global Cities REIT’s current SEC filings, prospectus supplements, NAV disclosures, share repurchase materials, quarterly reports, and official sponsor information.

• Nuveen Global Cities REIT SEC Filings
• Nuveen