PSP Investments and Nuveen Real Estate said on 21 October 2026 that their new joint venture had acquired 19 open-air shopping centres across the US for US$790m.
Why PSP Investments and Nuveen Real Estate is buying Portfolio of 19 US grocery-anchored open-air shopping centres
The partners said grocery-anchored, necessity-based retail has proved resilient through cycles, supported by steady demand for essential goods and services.
“Necessity-based retail has demonstrated remarkable resilience through various cycles, underpinned by consistent consumer demand for essential goods and services”
Deal terms and financing
The portfolio of about 3m sq ft was assembled through two portfolio transactions, of six centres (about 801,000 sq ft) and 11 properties (about 1.9m sq ft), and other acquisitions.
Regulatory approvals and timing
The acquisitions announced have been completed.
Market context
The centres are in Virginia, Arizona, Florida, Minnesota, Texas, California, Colorado and Washington.
In the rankings
