TIAA Caps Super-Regional Mall Fund

Scott Kempton of TIAA at July’s Retail Property Conference in London. (Photo: TH Real Estate)

NEW YORK CITY—TIAA Global Asset Management said Monday it had closed fundraising for its T-C US Super Regional Mall Fund LP after raising $1.25 billion from investors. With leverage, the equity commitments will allow the fund to target a portfolio of approximately $2.5 billion.

“With the increased demand from institutional investors in real assets, we are continually leveraging our global investment experience to develop products that tap into high performing sectors,” says Scott Kempton, managing director and portfolio manager for the US SRM fund. “We believe that US super-regional malls present a sound long-term investment given the current lack of mall construction and the shift towards consumers seeking entertainment experiences outside the home. These assets are unique, hands-on environments, often offering extensive food hall and fine dining options, as well as movie theatres and other attractions that can ultimately help drive traffic and sales.”