Nuveen Real Estate Raises $320M for US Cities Retail Fund
Nuveen Real Estate has secured $320 million in new capital from institutional investors for its US Cities Retail Fund, an open-ended vehicle benchmarked to the Open-End Diversified Core Equity index. Launched in 2018, the fund is among the few retail-focused funds of its kind in the market.
The US Cities Retail Fund invests in necessity-based neighborhood retail properties, anchored by grocery stores and daily needs tenants, in high-liquidity markets where consumers live and work, and where well-capitalized retailers seek expansion.
“Having been through the full cycle of retail real estate, we can say that this is a great vintage moment for the sector and are excited to see the strong momentum and investor interest from this new capital to the strategy,” said Katie Grissom, head of retail and mixed-use, Nuveen Real Estate.
Brian Wallick, senior director & portfolio manager at Nuveen Real Estate, highlighted the growing institutional interest in necessity-based retail and the strong lender appetite in the space, allowing the fund to maximize risk-adjusted returns while achieving efficient scale.
“We continue to focus on high-quality locations with essential tenants serving high-income consumers demonstrating resilient, consistent demand for tenant products and services,” added Wallick.
The fund is part of Nuveen’s broader retail platform, managing $8 billion in assets, representing $16 billion in gross value across a diversified national portfolio.
