Northwood and Nuveen recap outdoor California shopping mall

Northwood Investors LLC and Nuveen Real Estate have recapitalized The Forum Carlsbad, an outdoor shopping mall in Carlsbad, California.

Northwood Investors LLC and Nuveen Real Estate have recapitalized The Forum Carlsbad, an outdoor shopping mall in Carlsbad, California. No financial terms were disclosed.  Northwood Retail LLC, an affiliate of Northwood, will oversee the leasing, marketing, property management and redevelopment of the project.

PRESS RELEASE

DALLAS (PRWEB) SEPTEMBER 01, 2021
Northwood Investors LLC (“Northwood”), a leading privately-held global real estate investment firm, has partnered with Nuveen Real Estate, one of the largest global real estate mangers, to recapitalize The Forum Carlsbad (“The Forum” or the “Property”), an open-air, outdoor lifestyle shopping center. Northwood Retail LLC, an affiliate of Northwood, will oversee the leasing, marketing, property management, and redevelopment of the project.

Located at 1923 Calle Barcelona in Carlsbad, CA, the Property has an affluent trade area containing more than 1.2 million residents. The 34.2-acre property has 265,000 square feet of commercial retail space and is surrounded by some of southern California’s most attractive communities, including Carlsbad, Rancho Santa Fe, Del Mar, Encinitas, and Solana Beach.

“Northwood Investors is excited to partner with Nuveen to reimagine The Forum Carlsbad for the modern retail environment,” said Northwood Managing Director, Daniel Palmieri. “The Forum Carlsbad is truly a world-class asset with excellent tenants and a strong trade area, and we are thrilled to add it to Northwood’s portfolio.”

The Forum Carlsbad was originally built in 2003 and 2004 by Thomas Enterprises. Northwood Retail’s President, Ward Kampf, was instrumental in shaping the branding and leasing of the project during his time with Thomas Enterprises, opening key retailers such as Apple, Free People, and lululemon athletica.

“Since my original involvement on The Forum, I’ve had a strong conviction that North County San Diego is one of the most dynamic submarkets in the US, and yet, it is underserved. Northwood and Nuveen have collaborated on the vision for where the Property is headed, and we look forward to working together to strengthen the Property’s position as one of the dominant retail assets in the country,” said Kampf.

The Forum Carlsbad has North County San Diego’s leading collection of stores, including national retailers such as Apple, Anthropologie/BHLDN, Sur La Table, lululemon athletica, Free People, Urban Outfitters, Johnny Was, MAC Cosmetics, ULTA, Madewell, and others, along with local favorites like Jimbo’s, a gourmet natural foods grocer. Restaurants include Casa de Bandini, Urban Plates, Pressed Juicery, and others, along with a wide variety of services, spas, and athletic facilities.

“We believe that partnering with Northwood, a best in class, vertically integrated operator, will enable us to capitalize on this opportunity. Implementing a holistic approach to leasing, marketing, and place-making, will bolster The Forum’s long history as the preeminent retail destination in the trade area,” said Nuveen Asset Management Director, Anushka Silva.

“Part of our overall strategy is bringing the right specialists to each retail niche and this partnership with Northwood is a perfect example. We are confident that with Northwood’s involvement, we will unleash latent value at The Forum as well as identify more opportunities in lifestyle and mixed-use spaces,” said Nuveen Global Head of Retail, Manuel Martin.

For more information on Northwood Investors, visit northwoodinvestors.com. To learn more about The Forum Carlsbad, visit theforumcarlsbad.com.

About Northwood Investors:
Northwood Investors is a privately held, real estate private equity firm that owns and operates real estate across the US and Europe. The firm currently manages approximately $8 billion of investor capital. Northwood’s flagship fund seeks to opportunistically acquire well-located real estate with a plan to create value through hands-on asset management. Northwood is vertically-integrated with in-house operating teams across the office, multifamily, retail, logistics and hospitality sectors. Please visit http://www.northwoodinvestors.com for more information.

About Northwood Retail:
Northwood Retail was established by Northwood Investors, a privately-held, global real estate investment and management firm. The platform currently leases, manages, and markets a portfolio of community and mixed-use properties across the United States with a concentration in California, Texas, Colorado, North Carolina, and South Carolina. Built upon strong, fundamental real estate principles, Northwood Retail is focused on creating value at each project through a disciplined approach to leasing, development, property management, and marketing. To learn more about the company and its unique properties, visit https://northwoodretail.com/

About The Forum Carlsbad:
The Forum Carlsbad is an outdoor lifestyle shopping center located in Carlsbad, CA. The Forum has North County’s finest collection of stores, including national retailers such as Anthropologie/BHLDN, Sur La Table, lululemon, Free People, Urban Outfitters, Johnny Was, MAC Cosmetics, ULTA, Madewell, and more. Restaurants include Casa de Bandini, Buca di Beppo, Urban Plates, Pressed, and Jimbo’s, a gourmet natural foods grocer. A wide variety of services, spas and athletic facilities are located upstairs at The Forum. For more information, visit theforumcarlsbad.com.