Linklaters has advised Teachers Insurance and Annuity Association of America, the US investment fund, and Nuveen Real Estate, on the disposal of 25% of its initial interest in Cityhold Office Partnership to CBRE GIP. Jones Day advised CBRE Global Investment Partners.
The disposal represents a value of approximately €625 million and amounts to half of TIAA’s 50% stake in CHOP, a pan-European office joint venture. Nuveen Real Estate, the fund management arm of TIAA, will remain as portfolio and asset manager of CHOP which owns a high-quality portfolio of assets across Europe.
The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, is a Fortune 100 financial services organization that is the leading provider of financial services in the academic, research, medical, cultural and governmental fields.
CBRE GIP is a provider of indirect real estate investment solutions.
The Linklaters team advising on the deal was led by Tom Watkins (Picture), London and Matthew Plaskow, London (Managing Associate).
The Jones Day team was led by Alistair Grant.