PSP Investments and Nuveen Real Estate Launch Joint Venture with US$790 Million in Open-Air Shopping Center Investments Acquired Across the U.S. to Date
PR Newswire•21/10/2026•08:00 ET
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Key Highlights
- ➤US$790 million initial portfolio launches PSP Investments-Nuveen U.S. retail joint venture
- ➤19 properties totaling 3 million square feet acquired across eight states
- ➤Two portfolio acquisitions add 17 open-air shopping centers and approximately 2.7 million square feet
- ➤Strategy targets grocery-anchored, necessity-based centers in high-growth U.S. metro areas
Expert Statements
Julien Roy-Décary, Managing Director, Real Estate Investments, Americas at PSP Investments
“We have been reshaping our U.S. retail exposure around a much tighter definition of the sector: open-air centers anchored by grocers and daily-needs tenants, which aims to deliver a steady, inflation-linked income for our portfolio.”
Julien Roy-Décary, Managing Director, Real Estate Investments, Americas at PSP Investments
“Nuveen brings the sourcing reach and operating depth this kind of portfolio demands, and what we own today is exactly the retail exposure our strategy calls for.”
Brian Wallick, Portfolio Manager, Retail, Nuveen Real Estate
“Necessity-based retail has demonstrated remarkable resilience through various cycles, underpinned by consistent consumer demand for essential goods and services.”
Brian Wallick, Portfolio Manager, Retail, Nuveen Real Estate
“Coupled with PSP Investments' long-term capital, this venture is designed to deliver both durable income and long-term value creation.”
Brian Wallick, Portfolio Manager, Retail, Nuveen Real Estate
“We're confident this combination of scale, relationships, and local execution positions us strongly in one of the most stable and defensive segments of retail real estate.”
PSP Investments and Nuveen Real Estate Launch Joint Venture with US$790 Million in Open-Air Shopping Center Investments Acquired Across the U.S. to Date PR Newswire
Partnership Closes on US$790 million Initial Portfolio of Necessity-Based Retail Properties with Plans for Continued Growth
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