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TH Real Estate awarded UK CRE debt mandate

Christian Janssen

TH Real Estate has been awarded a mandate to invest in the UK Commercial Real Estate (CRE) debt market by The Korean Teachers’ Credit Union (KTCU). The South Korea retirement fund is investing in senior loans secured on London office assets.

TH Real Estate has now raised approximately £300m for its Global Real Estate Debt Partners – Fund I (UK) investment strategy. The new mandate with KTCU will target annual returns in the mid-5% range with senior loans at moderate loan-to-value ratios and targeting a five-year term.

This latest debt instruction for TH Real Estate from a Korean investor follows from the mandate for real estate whole loan investments by Dongbu Insurance Company and Dongbu Life Company, one of Korea’s largest insurers.  

TH Real Estate has a market-leading CRE debt team in the UK with origination, structuring, execution and portfolio management capabilities. The team leverages the expertise of TH Real Estate’s in-house specialist sector teams that invest equity directly in commercial real estate transactions, representing a £12bn+ UK portfolio.  

Christian Janssen, Head of Debt at TH Real Estate, comments: "UK CRE debt is appealing to investors because it offers income-focused returns from a protected position in the capital structure. London offices in particular are underpinned by global structural trends and well positioned to deliver long-term value growth. We are very pleased to be working with KTCU and believe this mandate is a testament to our track record and proven expertise in the CRE debt market."

Established in 1971, KTCU acts as the pension fund for all educational personnel in Korea. The company has 740,000 scheme members and assets of KRW 27trn.

Issued by Nuveen Real Estate Management Limited, 201 Bishopsgate, EC2M 3BN. Authorised and regulated by the Financial Conduct Authority. TH Real Estate is a name under which Nuveen Real Estate Management Limited provides investment products and services. COMP201700446

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