TIAA-CREF plans to follow its sale of stakes in five U.S. office properties to Norway’s sovereign-wealth fund with joint investments in more U.S. real estate, an executive of the New York-based retirement account manager said.
The Norwegian fund was "interested in coming into the United States with an office mandate, targeting certain gateway cities which are very high on our target-market list," Suzan Amato, managing director and head of TIAA-CREF’s global real estate joint ventures, said in a telephone interview. "So we started with these five buildings, but we plan to go shopping together with them immediately."
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