BRUSSELS 18 January 2021 – CBRE Global Investors has acquired, on behalf of a pan European Fund, the Casa Distribution Centre located in Olen, in the Antwerp province of Belgium. The asset, secured off-market, is purchased from Domus Logistics, a subsidiary entity of the Casa Group. HB Capital acted as advisor for the seller.
The circa 60,000 sq m state of the art, grade A logistics asset is fully occupied by Casa Group, a Belgian interior chain with 500 stores in eight countries. The asset serves as their European distribution centre as well as their European office headquarters. It was built in 2017 and comprises of 49,776 sq m of warehouse space, 6,609 sq m mezzanine and 4,969 sq m office space.
The asset is located along the E313, one of the main logistics axes in Belgium, between the cities of Antwerp and Liège. The location benefits from good international connectivity and several large international brands have their European distribution centres located in the area.
“There is limited available product in this area making this a rare investment opportunity. Benefitting from strong logistics market fundamentals and structural undersupply in the Antwerp submarket, the asset will also provide a secure income stream. With the positive outlook for the logistics sector, we expect this asset to be a strong performer for our investors” commented Arthur De Four, Senior Asset Manager, CBRE Global Investors.
In 2020, CBRE Global Investors logistics platform acquired €857 million of European logistics assets in 34 deals across nine countries. The firm is a leading investor and operator in the European logistics sector, with an AUM of €10.4bn*, a rental area of seven million sq m across 11 countries.
* As of 30 September 2020
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About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $114.5 billion in assets under management* as of September 30, 2020. 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:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 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 assets-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 assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.