PSP Investments and Nuveen Real Estate Launch US$790 Million Retail Joint Venture
PSP Investments and Nuveen Real Estate have established a joint venture focused on acquiring open-air, necessity-based shopping centers across the United States. The partnership has already deployed US$790 million to acquire 19 assets totaling approximately 3 million square feet. The strategy targets grocery-anchored properties in high-growth U.S. metropolitan areas to ensure resilient foot traffic and stable income. The initial portfolio includes significant holdings across several states, including Virginia, Arizona, Florida, Texas, and California. By focusing on essential services and category-dominant grocers, the venture aims to provide inflation-linked returns and defensive exposure within the retail real estate sector. The partnership leverages Nuveen's operational expertise alongside PSP Investments' long-term capital to scale its presence in stable retail segments.
Topics: Asset Acquisition Joint Venture Pension Fund Investment Retail Real Estate
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Part of the story PSP Investments and Nuveen Real Estate Launch US$790 Million Retail Joint Venture (4 articles)