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Fundraising - APRIL 9, 2014

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TH Real Estate replaces outlet mall fund

by Reg Clodfelter

Newly formed TIAA Henderson Real Estate has replaced the Henderson Outlet Mall Fund, which concluded its 10-year term in February 2014, with the European Outlet Mall Fund. The new fund, which will also have a 10-year term, will retain the same assets and investment strategy, and many of the same investors.

“The Outlet Mall Fund, which was brought to the market in 2004, did not provide an option for an extension,” explains Andy Rich, fund manager of both the old and new fund. “We worked collaboratively with our investors to explore all possible routes before determining that a restructure was the optimum outcome. It allowed redeeming investors to exit while creating a new vehicle for the majority of the investors who remained committed to the investment strategy. By initiating an open and transparent voting process, we were able to provide a solution that met the needs of all invested part

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