Nuveen Real Estate has announced it has raised $330 million for its U.S. Cities Retail Fund from three Australian superannuation funds. The Retail Employees Superannuation Trust anchored the capital raising with a $250 million commitment.
The fund targets necessity-based neighbourhood retail properties anchored by grocery and daily-needs tenants, focusing on high-liquidity markets where consumers live and work and where well-capitalised retailers are looking to expand. The strategy directly addresses changing consumer behaviours by prioritising convenience and experience within a grocery-anchored portfolio, seeking to offer resilient income while adapting to how consumers shop today.
Brian Wallick, Portfolio Manager for the U.S. Cities Retail Strategy, Nuveen Real Estate, said, “The scale of these commitments from sophisticated investors like Rest speaks to the appeal of grocery-anchored neighbourhood retail and a recognition that not all retail is created equal. Our strategy sits at the intersection of enduring consumer trends: the demand for convenience, the importance of experience in physical retail, and the fundamental need for daily essentials regardless of economic conditions.”
Join our community of 200,000+ real estate leaders and get weekly insights and updates with our newsletter.
*Offer ends on Friday, 7th February.
