Europe-based TH Real Estate eyes Asia for growth

TIAA Henderson Real Estate (TH Real Estate), one of the world's largest real estate investment managers with US$71 billion in property assets under management, plans to build up a strong platform in the Asia-Pacific, including Japan and China, through organic growth, acquisitions and partnerships.

"Ten years from now, I will be disappointed if we do not have a size in the region close to that of Europe [where] we have investments worth over US$20 billion," chief executive James Darkins said.

TH Real Estate, which was launched last month, consists of US group TIAA-CREF's European real estate arm and London-based Henderson Global Investors' European and Asia-Pacific property businesses.

Headquartered in London, the joint venture also has investments in the Asia-Pacific worth US$550 million, an amount Darkins described as "relatively small", but one he said he would like to expand.

"Organic growth, acquisition and partnership are the three legs to our strategy," he said.

Darkins said the company was looking for capable specialists across the Asia-Pacific region that could help it invest wisely and safely for its clients.

TH Real Estate does not yet have any acquisitions under negotiation, but it is in discussion with a number of companies in China, Singapore and Japan.