Des Peres Mall Part of $1.5 Billion Real Estate Venture

Two major retirement fund management companies are investing in West County Center.

TIAA-CREF and APG have acquired interests in five malls in the U.S., including , TIAA-CREF said in a statement Monday that announced the retirement fund management companies' real estate joint venture.

The joint venture targets dominant super-regional malls located in major U.S. markets through acquisitions with major mall operators, TIAA-CREF added.

The five properties have a gross valuation in excess of $1.5 billion.

"We see dominant regional malls as being an important part of a well-diversified real estate portfolio, with the ability to provide durable income streams and long term value," said Scott Kempton, managing director, Global Real Estate Portfolio Management at TIAA-CREF.

As of June 30, TIAA-CREF manages $469 billion in combined assets. As of July, APG manages about $387 billion in pension assetts.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something