IEF Capital (a joint venture of Bouwfonds IM & IEF) and CBRE Global Investors are pleased to announce that a consortium led by CBRE Global Investors and consisting of three Dutch institutional investors and the CBRE Dutch Retail Fund, has recapitalized the shares in IEF Capital Berlage Zuid B.V. and IEF Capital Berlage HB II B.V.
The structure, which remains unchanged, ultimately holds 31 entities owning 31 Dutch retail assets anchored by flagship stores and will be managed from now on by the CBRE Global Investors platform. IEF Capital has managed the structure for 12 years and is pleased with the realized result for the exiting investors.
As a result of the recapitalization, the four institutional investors will gain exposure to long term sustainable and indexed income from assets located in the most prime urban locations in the Netherlands.
Sustainability is key for the investors’ group, as it is seen as a catalyst for performance, as well as an integral part of their long term responsible investment policy.
Sophie van Oosterom, Chief Investment Officer EMEA, CBRE Global Investors said: “We are delighted to have secured this opportunity for our clients. We believe our platform can create further value for this holding through our extensive pan-European retail expertise.”
IEF Capital, adds: “We are pleased with the recapitalization of this structure with four long-term institutional investors which are located in the Netherlands.”
CBRE Global Investors was advised by CBRE Advisors, Houthoff, Deloitte and NautaDutilh and IEF Capital was advised by Loyens Loeff.
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $98.3 billion in assets under management* as of September 30, 2017. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBG). It harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services and investment company for the benefit of its investors. CBRE Group, Inc. has more than 75,000 employees in approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors' presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
About IEF CAPITAL
IEF Capital is a joint venture between Bouwfonds Investment Management and IEF (Inflation Exchange Fund).