Nuveen to Buy 12% Stake in Preston Hollow After Ending Feud

Nuveen will acquire a 12.4% stake in Preston Hollow Community Capital under a previously announced deal with the private lender to cities, hospitals, universities and real estate developers, according to a securities offering prospectus.

Preston Hollow disclosed the planned purchase in an offering document for a $150 million private sale of municipal securities backed by a pool of loans. The deal will allow Dallas-based Preston Hollow to finance more projects.

In April, as part of a settlement of a years-long legal battle, the two firms disclosed that Nuveen would become a “significant minority investor” in Preston Hollow. The size of ...