Acquisition of The Shoppes at Buckland Hills

Deal value: $185,000,000

Nuveen Real Estate acquired The Shoppes at Buckland Hills, a 900,000 sq ft regional mall in Manchester, CT, anchored by Macy’s, Target, and Dick’s Sporting Goods.

The acquisition of The Shoppes at Buckland Hills is driven by a value-add and turnaround thesis targeting distressed retail assets. The mall, having experienced foreclosure and significant tenant loss, presents an opportunity for a well-capitalized investor to acquire a large, necessity-anchored property at a steep discount to replacement cost. The core belief is that with strategic repositioning, operational efficiencies, and potential redevelopment, the asset can generate attractive risk-adjusted returns as retail fundamentals stabilize and consumer demand for experiential and necessity-based retail persists.