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TIAA Henderson Real Estate targets the Nordics for significant investment

TIAA Henderson Real Estate (TH Real Estate) has identified the Nordic region as a key investment target over the next eighteen months.

The global real estate investment manager, which invests capital on behalf of its global client base, has built up an established presence in the region since opening its local office in Stockholm in 2012. The company has long identified the region as a significant growth area for its business and has been building out its platform over the past two years. TH Real Estate is witnessing strong appetite from both US and European clients, who are keen to invest into the Nordic region. As a result, it anticipates committing c.€500m over the next 18 months.

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 this investment programme. Offices have also been identified as a possible sector for investment, with Stockholm, Malmo and Gothenburg being the primary target. Joint ventures with other investors across the region are of particular interest.

Johan Åström, Head of Investment, Sweden, said: “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.”

David Turner, Director of European Retail at TH Real Estate, added: “When looking from a pan-European investment perspective, Sweden achieves high rankings across a wide range of economic indicators and is often used as a model example by economists, considered as a well-run, and efficient country, which benefits from low levels of public debt.

Off the back of this strong economic picture, 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. In addition to this, demographic trends, which put Sweden into the highest growth category in Europe, will also help maintain positive sales for the longer term.”

Issued by Henderson Real Estate Asset Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Henderson Real Estate Asset Management Limited provides investment products and services.

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