TIAA, Henderson Join Forces On $19B Global Real Estate JV

Law360, New York (June 24, 2013, 2:48 PM EDT) -- Looking to carve out a larger chunk of the global real estate business, TIAA-CREF and an investment unit of Henderson Group PLC have agreed to form a $19 billion venture that combines several of the companies' property businesses, according to a Monday statement.

TIAA Henderson Global Real Estate, as the new company has been dubbed, will combine TIAA-CREF's European real estate business with Henderson's European and Asia Pacific property businesses, the companies said. TIAA-CREF will lead the new company with a 60 percent stake.

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