{"id":1004093600,"date":"2014-03-31T08:16:00","date_gmt":"2014-03-31T16:16:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004093600"},"modified":"2022-12-08T19:44:48","modified_gmt":"2022-12-09T03:44:48","slug":"april-issue-institutional-clout","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/april-issue-institutional-clout\/","title":{"rendered":"APRIL ISSUE: Institutional Clout"},"content":{"rendered":"<p><strong>TIAA-CREF\u2019s Thomas Garbutt Finds New Frontiers<\/strong><\/p>\n<p><em>By Paul Rosta, Senior Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004093608\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/april-issue-institutional-clout\/garbutt_final\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg\" data-orig-size=\"800,533\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;10&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;Canon EOS 5D Mark III&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1392865579&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;115&quot;,&quot;iso&quot;:&quot;400&quot;,&quot;shutter_speed&quot;:&quot;0.016666666666667&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Garbutt_Final\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg?w=800\" class=\"alignright size-medium wp-image-1004093608\" alt=\"Garbutt_Final\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg\" width=\"300\" height=\"199\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg?resize=768,512 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/em><\/p>\n<p>In 1934, as the Great Depression deepened, TIAA-CREF made its first investment in commercial real estate. That same year, on the other side of the Atlantic, the predecessor of Henderson Group plc was launched in London. Eighty years later, the two venerable institutional investors are joining forces in a $63 billion joint venture that promises to make its presence felt on three continents.<\/p>\n<p>The initiative emerged from about 18 months of conversations among the two companies\u2019 leaders, reported Thomas Garbutt, who is leading TIAA-CREF\u2019s role in the joint venture as CEO of the investment management firm\u2019s global real estate unit. \u201cWe liked what we saw as far as the way they ran their business,\u201d he said. \u201cWe really came to the same conclusion together.\u201d He cites such elements as a similar client-first ethic, complementary goals, dedication to research and compatibility of leadership.<\/p>\n<p>Dubbed TIAA Henderson Global Real Estate, the joint venture\u2019s stated mission is to pursue both core and value-add investment opportunities across a wide variety of real estate product types. Expected to close by the end of the first quarter, it combines TIAA-CREF\u2019s European real estate business with Henderson\u2019s real estate enterprises in Europe and the Asia-Pacific region. TIAA-CREF owns a 60 percent stake in the joint venture, and also took sole ownership of Henderson\u2019s real estate business in the U.S., thereby broadening the international reach of both firms. Headquartered in London, the joint venture operates additional offices in North America and Europe.<\/p>\n<p><em>Read the full interview in the\u00a0<a href=\"https:\/\/digital.commercialsearch.com\/news\/publication\/?i=202222&amp;p=22\">April 2014 issue<\/a>\u00a0of CPE. Access is free!<\/em><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>TIAA-CREF\u2019s Thomas Garbutt finds new frontiers.<\/p>\n","protected":false},"author":952,"featured_media":1004093608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21744],"tags":[],"class_list":["post-1004093600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-people"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>APRIL ISSUE: Institutional Clout - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/april-issue-institutional-clout\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"APRIL ISSUE: Institutional Clout\" \/>\n<meta property=\"og:description\" content=\"TIAA-CREF\u2019s Thomas Garbutt finds new frontiers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/april-issue-institutional-clout\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-03-31T16:16:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T03:44:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2014\/03\/Garbutt_Final.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"533\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"APRIL ISSUE: Institutional Clout\",\"datePublished\":\"2014-03-31T16:16:00+00:00\",\"dateModified\":\"2022-12-09T03:44:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/\"},\"wordCount\":277,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/03\\\/Garbutt_Final.jpg\",\"articleSection\":[\"People\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/april-issue-institutional-clout\\\/\",\"name\":\"APRIL ISSUE: Institutional Clout - 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