TIAA-CREF Buys Manhattan Retail Condo for $44.73 Million
January 6, 2012
By: Roland Li

The Teachers Insurance and Annuity Association – College Retirement Equities Fund (TIAA–CREF), the large pension fund manager and institutional investor, has purchased a retail condo in Manhattan for $44.73 million, according to city records...

..."TIAA strives to improve the quality of its portfolio by capitalizing on opportunities to realize value through select sales as well as through carefully identified acquisitions," said a spokesperson for the group...

... the ground floor retail space was 9,300 square feet and the sale included an additional 5,200 square foot, unleased basement. The brokers were Woody Heller, Will Silverman and Eric Negrin of Studley...


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