TIAA Henderson Real Estate (TH Real Estate) has identified the Nordic region as a key investment target and plans to spend around €500 mln in the market over the next 18 months.
TIAA Henderson Real Estate (TH Real Estate) has identified the Nordic region as a key investment target and plans to spend around €500 mln in the market over the next 18 months.
The global real estate investment manager has built up a presence in the region since opening its local office in Stockholm in 2012, led by director Johan Åström.
'TH Real Estate is witnessing strong appetite from both US and European clients, who are keen to invest into the Nordic region,' the group said in a statement.
Retail assets, in particular shopping centres in Sweden’s top 15 cities which dominate their catchment area, are likely to form a significant part of the group's investment programme. TH Real Estate already owns shopping centres in Eskilstuna and Örebro.
'We particularly favour the retail sector and are confident that careful stock selection, by a highly experienced local team that outperform compared with the European average, is achievable,' commented David Turner, director of European Retail at TH Real Estate.
Offices have also been identified as a sector for investment, the company added, with Stockholm, Malmo and Gothenburg being the primary target. Joint ventures with other investors across the region are of particular interest.
'We have built up a capable and experienced local platform to support our long-term commitment to the region. The team in place now boasts a wealth of experience across fund management, investment, development, asset management and leasing. These skills will be applied to both our existing portfolio and new acquisitions, adding value at all levels from development to tenant engineering,' commented Johan Åström said.
