Nuveen, Taconic, North American Properties acquire mixed-use lifestyle center in New York

Nuveen Real Estate, Taconic Partners and North American Properties have acquired Ridge Hill, a 1.2 million-square-foot, mixed-use lifestyle center in Yonkers, N.Y., for $220 million.

The partners have plans to rebrand and transform the 74-acre property into a preeminent outdoor-lifestyle center serving the northern New York City metropolitan area. They will seek to incorporate state-of-the-art initiatives that enhance Ridge Hill’s public spaces, street design and parking amenities, drawing on their combined network of retailers to attract top-tier local and New York City–inspired food and beverage concepts and national luxury-apparel and boutique-fitness providers.

“We see this as an attractively priced asset in an evolving sector that fits within our well-diversified New York property focused real estate fund,” said Nadir Settles, managing director at Nuveen and head of the New York Property Fund. “The acquisition of Ridge Hill reflects a generational opport