Topmenu

This is a backup version of ScandinavianRetail.com
NovaLUND

”Business as usual” as owner of Nova Lund, Tuna Park and Vågen becomes 100 percent American

A year after the joint venture started, American TIAA-CREF (Teachers Insurance and Annuity Association – College Retirement Equities Fund) acquires the remaining ownership interest in TIAA Henderson Real Estate (“TH Real Estate”) from its joint venture partner, Henderson Global Investors (“Henderson”) for 80 million pounds sterling.

TH Real Estate is a global real estate investment management company that pursues core and value-add investment in all major sectors of commercial real estate. It will operate as a stand-alone subsidiary within TIAA-CREF’s Asset Management multi-boutique platform. TH Real Estate will have independent executive leadership and investment teams.

“This investment is an exciting step in our long-term plan to expand our asset management business,” said Robert G. Leary, executive vice president and president of asset management, TIAA-CREF.

TH Real Estate has approximately $26 billion in assets under management, including assets in Europe, Asia and North America.
In the Nordics, there are three shopping center properties in Sweden and one office location in Helsinki, Finland.
The shopping centers are located at Tuna Park in Eskilstuna, Vågen in Örebro and retail park properties at Östra Birsta in Sundsvall and Center Syd in Löddeköpinge.

”To us in Sweden, it’s business as usual. It will only be a small adjustment of our name but the same organization and the London-office will remain,” Swedish MD Johan Åström tells Realtid.se

The transaction is expected to close in the second quarter of 2015, pending regulatory approvals and customary closing conditions.

, , ,

Ansvarig utgivare: Björn Nylund bjorn.nylund@scandinavianretail.se ScandinavianRetail.com ges ut av Scandinavian retail newsservice AB, org. nr 556935-9945 | All contacts: contacts@scandinavianretail.se Please allow 24 hrs to respond. | Tel: +46 (0) 760 541 850 (Sweden) | +47 988 29 274 (Norway) | +358 41 36 20 542 (Finland) | +45 266 49 316 (Denmark) |