Nuveen Real Estate has raised $320 million in new capital from institutional investors for its U.S. Cities Retail Fund.
The open-end fund, part of Nuveen’s U.S. Cities series, is one of the few retail vehicles benchmarked to the NCREIF Fund Index – Open-end Diversified Core Equity available in the market today, according to a statement from the firm.
Launched in 2018, the U.S. Cities Retail Fund targets necessity-based neighborhood retail properties anchored by grocery and daily needs tenants. The strategy focuses on high-liquidity markets where consumers live and work, and where well-capitalized retailers are looking to expand.
“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
