APG and TIAA-CREF invest $1.5bn in US malls

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NETHERLANDS/US - Dutch pension fund APG and the US pension fund manager TIAA-CREF have joined forces to invest in five US shopping malls valued at $1.5bn.

APG purchased a 49% stake and TIAA-CREF brought the remaining 51%. The Wall Street Journal reported APG has invested an estimated $375m in this real estate transaction though both investors refu...

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