Ropes Advise AGP And Seyfarth Advise TIAA-CREF on Mall Investment
New York—based private retirement provider TIAA-CREF has partnered with Dutch pension fund APG in investments totaling nearly $1.5 billion in totaling of five U.S. shopping malls. TIAA-CREF holds a 50 percent share in all the five malls. The Wall Street Journal reported that about $375 is being paid by APG for a 49 percent stake in TIAA-CREF's interests in the malls. TIAA-CREF took its half-share via a joint venture with CBL & Associates Properties in four of the malls. Ropes & Gray real estate partners Jason Dunn and Peter Alpert and tax partner Daniel Kolb will provide counseling and advice to APG on its agreement with TIAA-CREF. TIAA-CREF has hired Seyfarth Shaw senior real estate counsel Lester Bliwise in New York as its advisor.