New TIAA-CREF/AP pan-Euro office fund sources debt with ING

Cityhold Office Partnership has secured a €231m, 18-month refinancing facility from ING Real Estate Finance for part of its €2.2bn office portfolio. The joint venture, formed in September by US teachers' pension fund TIAA-CREF and Swedish National Pension Fund's AP1 and AP2 funds, targets pan-European offices. It is advised by TH Real Estate, which is owned by TIAA-CREF.