CBRE Group, Inc. is the world’s largest commercial real estate services and investment firm, with 2019 revenues of $23.9 billion and more than 100,000 employees (excluding affiliate offices). CBRE has been included in the Fortune 500 since 2008, ranking #128 in 2020. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
CBRE Global Investors, combined with CBRE Clarion Securities and CBRE Caledon, is one of the world’s leading real asset investment managers with $109.6 billion in assets under management.
Built up over more than 40 years, our unparalleled platform is focused on real assets, giving our institutional clients access to real estate and infrastructure in the Americas, Europe and Asia Pacific. Our clients benefit from a complete range of investment solutions including equity and debt, direct and indirect, and listed and unlisted strategies.
Trammell Crow Company, founded in Dallas, Texas in 1948, is one of the nation’s oldest and most prolific developers of, and investors in, commercial real estate.The CBRE Global Investors and Trammell Crow Company platforms make up the Real Estate Investments division of CBRE Group.
The Real Estate Investments division is led by Mike Lafitte, Global CEO, Real Estate Investments.
Regularly released content on the state of the real estate and infrastructure industry are produced by our subject matter experts and shared on their blogs. A selection of them can be found below.
CBRE European Shopping Centre Fund II Closes at €753 Million
The CBRE European Shopping Centre Fund II (ESCF II), a fund managed by CBRE Global Investors, announces the final close of the fund at €753 million. This includes €71.1 million of co-investment capital and exceeds the original equity raise target. The fund was oversubscribed.
The closed end fund builds on the strengths of the CBRE Global Investors’ retail platform and is delivering a focused strategy that generates alpha through buying, improving and selling dominant shopping centres across Europe. The strategy is expected to deliver an 11% net IRR and has a Core plus risk profile. The Fund targets assets that have a strong operational track record and offer income growth opportunities from short lease expiries or repositioning.
Florencio Beccar, Head of EMEA Retail and Fund Manager of ESCF II commented: “This capital raise has exceeded our expectations and shows that investors are keen to support managers that offer a focused and specialist investment strategy. I believe this has been enhanced by the strong performance of our first fund and we are delighted that 35% of the investors were existing ESCF clients.
We are one of the market leaders in the European retail sector and these strong capital inflows are a great recognition of our expertise by investors. One of our unique selling propositions is our proprietary database of €14 billion of retail assets under management in Europe which includes 70 shopping centres. We are also able to draw upon the local expertise of our transaction and asset managers who are based in 14 European countries.
This platform provides us with a unique understanding of the retail landscape and gives us the edge for identifying the right assets, acquiring them and making them perform for our investors.”
The fund has already acquired four shopping centres in Germany, Poland, Italy and Spain.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $87.6 billion in assets under management* as of September 30, 2016. 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 70,000 employees in more than 400 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 estate-related assets 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 estate; equity in funds and joint ventures; securities portfolios; operating companies and real estate-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.
Past performance is not a guarantee of future performance.