NEW YORK, June 9, 2026 /PRNewswire/ -- Cohen & Steers Income Opportunities REIT, Inc. ("CNSREIT") today announced its latest acquisition, a high-quality community shopping center on the north side of Austin, Texas. The investment was made through a programmatic joint venture with Sterling Organization, a real estate investment firm that specializes in shopping centers in the U.S.

1890 Ranch is a 442,000 square foot power center located in Cedar Park, Texas, a mature suburb of Austin positioned in the city's growth corridor. Cedar Park has nearly doubled its population since 2005 and has a population in its three-mile radius of 86,000 with a median household income of $118,000.1 1890 Ranch is 99% occupied, shadow-anchored by Target and includes leading retail concepts such as Academy Sports and Outdoor, Crunch Fitness, Burlington, Ross Dress for Less, Hobby Lobby, and Ashley Furniture. 

James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers, said:

"Austin's long-running growth boom has occurred when very little retail real estate was developed in the U.S. As a result, Austin's retail real estate infrastructure today is underdeveloped. Housing construction has rapidly absorbed most of the available land in the area around Cedar Park and has left highly productive retailers with few attractive places to meet their high-income customers– as evidenced by the 99% occupancy rate at 1890 Ranch. As the dominant center at an important retail and healthcare node, we believe that 1890 Ranch will become an increasingly vital epicenter in this burgeoning community."

CNSREIT has an initial focus on well-anchored, necessity-driven shopping centers. Open-air shopping centers are at their highest occupancy level of the past 16 years with power centers at 95.1%2, outperforming all other sectors, according to real estate analytics provider CoStar Group.

About CNSREIT. Cohen & Steers Income Opportunities REIT, Inc. is a perpetual-life, non-listed REIT formed to invest primarily in high-quality, income-focused, stabilized properties within the United States. CNSREIT is externally managed by Cohen & Steers Capital Management, Inc., a subsidiary of Cohen & Steers, Inc.

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.

About Sterling Organization. Sterling Organization is a vertically integrated private equity real estate firm whose national platform is focused on investing in retail and distribution real estate assets across the risk spectrum in major markets within the United States. The firm has over $2B of assets under management across the U.S., including more than 13 million square feet of primarily retail real estate. Sterling Organization, with offices across the nation, is headquartered in West Palm Beach, FL.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," "identified" or other similar words or the negatives thereof. These may include CNSREIT's financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements with respect to acquisitions, statements regarding future performance and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. CNSREIT believes these factors also include but are not limited to those described under the section entitled "Risk Factors" in the prospectus, as amended and supplemented from time to time, filed with the Securities and Exchange Commission (the "SEC"), which is accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document. Except as otherwise required by federal securities laws, CNSREIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.

1 ACS Community Survey 2025

2 Source: CoStar, as of March 31, 2026

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SOURCE Cohen & Steers Income Opportunities REIT, Inc.