TIAA-CREF, CNP Assurances Form $1.2B JV for German Retail Properties

Source:  CPE

TIAA-CREF and CNP Assurances have formed a joint venture to invest $1.2 billion in three retail properties in Germany. The New York-based financial services organization acquired the assets and will manage them on behalf of the joint venture. TIAA-CREF developed one of the shopping centers: Erlangen Arcaden in Erlangen, Germany. The other two properties are PEP in Munich and Gropius Passagen in Berlin. This is the first time TIAA-CREF has worked with CNP Assurances, a leading French ...

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