Home / Business and Economy / Rest Invests $250M in US Retail for Member Returns
Rest Invests $250M in US Retail for Member Returns
18 Mar
Summary
- Rest will invest up to $250 million in a US retail property fund.
- The investment targets neighborhood shopping centers across US cities.
- This move aims for stable, risk-adjusted returns for over 2 million members.
Australian superannuation fund Rest has committed up to $250 million to the U.S. Cities Retail Fund (USCRF), managed by Nuveen Real Estate. This investment is designed to expand Rest's exposure to income-generating assets and diversify its holdings.
The USCRF focuses on neighborhood shopping centers located in major metropolitan areas throughout the United States. Currently, the fund possesses ten retail properties and has secured five additional shopping centers for its portfolio.
Rest anticipates this investment will yield stable, risk-adjusted returns across various market cycles for its more than two million members. The commitment also serves to strengthen the diversification within Rest's existing property portfolio.
Nuveen established the USCRF in 2018. The fund recently concluded a $330 million capital raise, with Rest playing a significant role as a major participant in this funding round.
