Brand Street and Barings Acquire Connecticut Lifestyle Center

Key Takeaways

Brand Street Properties and Barings have jointly acquired The Shops at Evergreen Walk, a major open-air retail destination in Connecticut. The deal underscores a broader investment trend favoring high-quality, experience-oriented retail assets in strong suburban markets.

Strategic Acquisition: On December 23, 2025, Brand Street Properties and Barings acquired The Shops at Evergreen Walk, a premier lifestyle center in South Windsor, Connecticut.

Investment Thesis: The purchase aligns with Barings' strategy to invest in dominant, open-air retail centers that benefit from strong suburban demographics and sustained consumer demand.

Future Growth: The new ownership plans to drive value through continued capital improvements, strategic tenant curation, and expanded community-focused events.

Brand Street and Barings Acquire Connecticut Retail Center Targeting Suburban Demand

Brand Street Properties and the global asset manager Barings announced on December 23, 2025, the joint acquisition of The Shops at Evergreen Walk in South Windsor, Connecticut. The deal solidifies Brand Street's long-term commitment to the property, which it has successfully managed and redeveloped for the past five years. The acquisition of the 20-year-old open-air lifestyle center signals a strategic bet on the resilience of high-quality retail in affluent suburban corridors.

Barings' $470B+ Asset Arm Bets on Experiential Retail

The acquisition is a key part of a broader investment strategy focused on high-performing retail assets with strong growth fundamentals. Barings, a firm with over $470 billion in assets under management as of September 30, 2025, identified the property as a fit for its portfolio of dominant shopping centers. The center has recently attracted premier tenants including Whole Foods Market, lululemon, and Nike, strengthening its regional appeal. The new ownership plans further capital improvements and expanded community programming to enhance the customer experience and drive foot traffic.

The Shops at Evergreen Walk is a high-quality, well-located retail asset that aligns with our strategy of investing in dominant open-air centers in strong suburban markets.

— Chris Cassella, Managing Director at Barings.