Financial services provider TIAA-CREF has acquired the remaining ownership interest in TIAA Henderson Real Estate (TH Real Estate).
TIAA-CREF purchased the remaining 40 per cent stake of TH Real Estate from its joint venture partner Henderson Global Investors.
The financial services firm paid 80 million pounds sterling for the $26 billion real estate investment management company.
TH Real Estate will operate as a stand alone subsidiary within TIAA-CREF’s Asset Management multi-boutique platform.
“The firm will continue to pursue value-add investment opportunities in all major sectors of commercial real estate and will have independent executive leadership and investment teams,” a TIAA-CREF statement said.
According to the statement, the completion of the acquisition supports the firm’s goal of providing diversified long-term investment opportunities to its individual and institutional investor client base.
Magellan chairman and CIO Hamish Douglass has said he’s not afraid of missing out on a “short-term market rally” and that mutant virus...