The Fund seeks to maximize current income and preserve investor capital, with a secondary focus on long-term capital appreciation. Under a non-fundamental policy it invests at least 80% of net assets plus borrowings in U.S. commercial real estate loans and other real estate related investments, including agency and non-agency CMBS, CRE CLOs, mezzanine loans, preferred equity and publicly traded REIT securities, with direct real estate to a lesser extent. The Adviser targets high coupon floating rate debt, underwritten at the property level and positioned behind meaningful sponsor equity. There is no limit on below investment grade exposure. Nuveen Asset Management provides non-discretionary CMBS recommendations.