has raised 拢300m (鈧�335m) for a UK real estate debt fund, securing commitments from the Korean Teachers鈥� Credit Union (KTCU) and its parent company TIAA.
The announcement comes six months after that Korean pension fund KTCU and US financial services group TIAA had agreed to invest $1bn (鈧�846m) together in US real estate debt.
The fund, called the Global Real Estate Debt Partners鈥揊und I (UK), is open to other third-party investors.
it will invest in senior loans with moderate loan-to-value ratios secured on London office assets with a view to generating annual returns 鈥漣n the mid-5% range鈥�.
Christian Janssen, head of debt at TH Real Estate, said UK commercial real estate debt is 鈥渁ppealing to investors because it offers income-focused returns from a protected position in the capital structure鈥�.
He said: 鈥淟ondon offices in particular are underpinned by global structural trends and well positioned to deliver long-term value growth.鈥�
Last year, TH Real Estate was to invest in UK real estate debt by two Korean insurers, and the year before that it .
Earlier this year, on how Korean pension funds and insurers were increasingly targeting real estate debt.
