Nuveen Real Estate has attracted $320 million in fresh capital from institutional investors for its U.S. Cities Retail Fund, reinforcing the company's position as a major player in the retail property market.
The fund, which began in 2018, focuses on acquiring and managing neighborhood retail centers anchored by grocery stores and other essential retailers. These properties are typically located in high-demand urban areas where people both live and work and where established retailers are seeking opportunities to expand.
The U.S. Cities Retail Fund stands out as one of the few open-ended, diversified core equity vehicles in the retail sector, offering investors a rare opportunity to participate in a market that has shown renewed strength in recent years. Nuveen’s approach is shaped by a specialized team that leverages proprietary research to understand consumer trends, local market dynamics and evolving policy environments. The company claims that this research-driven perspective enables the firm to make informed decisions about asset selection and management, particularly at the neighborhood level, where subtle differences can significantly impact performance.
Recommended For You
Katie Grissom, who leads Nuveen’s retail and mixed-use division, described the current environment as a “great vintage moment” for retail real estate, noting the strong investor interest and momentum behind the fund. She emphasized that Nuveen’s sector-focused strategy, guided by experts in every phase of the investment process, positions the company to capitalize on opportunities in necessity-based retail.
There is a growing recognition among institutional investors of the resilience demonstrated by essential retail properties, especially those serving high-income communities, according to Brian Wallick, a senior director and portfolio manager at Nuveen. He also pointed to increased interest from lenders, which has helped the fund achieve scale and maximize risk-adjusted returns.
This latest capital raise will be deployed into grocery-anchored and necessity-based retail centers in top U.S. neighborhoods, further expanding Nuveen’s $8 billion retail platform. The company’s national portfolio now represents $16 billion in gross value and includes some of the most prominent retail assets in the country.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
