TIAA-CREF Real Estate Account topped $1 billion, company officials announced today. To date, about 50,000 participants in the defined contribution plans of universities, colleges and research institutions have selected the Real Estate Account as an investment option.
TIAA-CREF's strategy for the fund is to directly purchase income-producing properties, rather than REITS. As of June 30, a total of 37 properties had been purchased; 42% of the portfolio was invested in the office sector, 29% in multifamily properties, 21% in the industrial sector and 8% in retail.
