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One of the world’s largest real estate asset managers has raised more than $300M to buy neighborhood and grocery-anchored shopping centers in the U.S.

Nuveen Real Estate, the real estate arm of TIAA that has about $1.3T assets under management, raised $320M in institutional investor capital for its U.S. Cities Retail Fund.

The open-ended fund, first launched in 2018, targets necessity-based neighborhood retail properties anchored by grocery and daily-need tenants in affluent bedroom communities.