Nuveen TIAA

Building Hospitals and Surrounding Communities

Building Hospitals and Surrounding Communities

With John Cerra, Managing Director, Global Public Markets

Beginning in late 2008, and especially 2009, TIAA began to invest in a number of large ticket, high visibility hospital construction projects, including the largest Federal Housing Administration loan ever (Capital Health, Hopewell, NJ) and two significant NY projects, Albany Medical Center and two Kaleida projects. While the depth of the market has varied over this time, TIAA has been a credible, steady and deep pocketed partner during this period.

The Ginnie Mae Program is a backstop for hospitals that may not have access to the capital markets. TIAA has invested close to $4 billion dollars in multi-family, nursing homes, assisted living complexes, and now hospitals through the Ginnie Mae Project Loan Program.