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TIAA-Cref forges real estate deal with French insurer

The US financial services provider moves deeper into European real estate through another joint venture

US financial services provider TIAA-Cref has unveiled the latest in a series of real estate joint ventures with European investors.

A spokeswoman confirmed it has sold a stake in three German shopping centres worth a total of $1.2 billion to French insurance group CNP Assurances.

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