- CEO
- Joseph Vincent Amato
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 1290 Avenue of the Americas New York City NY United States of America 10104
- IPO Date
- Oct 29, 2003
- Business
- Neuberger Berman Real Estate Securities Income Fund Inc. (NYSE: NRO) is a diversified, closed-end management investment company that seeks high current income with a secondary objective of capital appreciation by investing primarily in real estate securities. The fund's portfolio consists of commercial real estate-related equity securities, including real estate investment trusts (REITs), such as equity REITs, mortgage REITs, and hybrid REITs; real estate operating companies; and real estate-related debt securities, including commercial mortgage-backed securities (CMBS), mezzanine loans, and preferred stock; as well as other income-producing securities. It employs a bottom-up investment process focused on undervalued opportunities across office, residential, retail, industrial, lodging, healthcare, self-storage, and data center property sectors.
The fund operates globally, with investments spanning the United States, Europe, Asia-Pacific, and other regions where real estate securities are available. Neuberger Berman Real Estate Securities Income Fund Inc. was launched in October 2003 and is managed by Neuberger Berman Investment Advisers LLC, with headquarters in New York City; it is externally managed and has no subsidiaries or parent company relationships beyond its affiliation with Neuberger Berman Group LLC.
In recent developments, the fund announced a strategic reorganization plan in 2023, approved by shareholders, to merge with Neuberger Berman Real Estate Income Fund Inc. (RLT), enhancing scale, liquidity, and operational efficiency; the merger was completed in early 2024, positioning NRO as a larger, more diversified vehicle in the closed-end real estate fund space. Additionally, in 2025, the fund launched an at-the-market (ATM) equity offering program to raise up to $100 million, supporting portfolio growth amid favorable real estate market dynamics; it also formed a tactical allocation partnership with Neuberger Berman's sustainable real estate strategy team to incorporate ESG-focused securities into 20% of its holdings. These changes reflect ongoing adaptations to interest rate environments and investor demand for income-oriented real estate exposure.