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.

 

Real estate has been a key part of TIAA-CREF’s investment platform since 1934 and represents US$82 billion in assets under management, as of March 31 2015. TIAA-CREF believes that direct access to real estate strategies offers individual and institutional investors access to attractive long-term investment opportunities. In addition, TH Real Estate strengthens and further diversifies the TIAA general account, which serves as a foundation for the savings and lifetime income payments for millions of clients.

 

“This investment is an exciting step in our long-term plan to expand our asset management business,” says Robert Leary, executive vice president and president of asset management, TIAA-CREF. “TH Real Estate offers our clients expanded investment opportunities through a flexible, well-capitalized and integrated global platform.”

 

TH Real Estate has approximately $26 billion in assets under management, including assets in Europe, Asia and North America. Since its launch, TH Real Estate has made 67 acquisitions worth more than $3.7 billion. The venture also established itself as an independent, successful global real estate investment manager, raising more than $1.3 billion of new equity mandates and securing $3.6 billion in capital recommitments from closed-end fund investors.

  

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