London, 21 October 2015 – CBRE Global Investment Partners (GIP) has completed the acquisition of a European logistics portfolio, comprising seven assets across France, Germany, the Netherlands and Spain.
The 600,000 sq m portfolio includes Villabe in France, Straubing in Germany and Alovera in Spain. CBRE GIP acquired the assets from existing clients of TH Real Estate. TH Real Estate will continue to manage the portfolio on behalf of GIP and will seek further acquisitions. The program will primarily target assets across France, Germany, Spain and Benelux. Investments into CEE will also be considered.
Jeremy Plummer, Head of CBRE Global Investment Partners, said: “The acquisition gives our investor clients exposure to a high quality portfolio of logistics assets in strategic locations across Europe. Our goal is to complement the existing portfolio with further acquisitions of similar quality.”
Thorsten Kiel Portfolio Manager, Head of Logistics, Europe and Fund Manager for the vehicle, TH Real Estate, added: “European Logistics has been identified by CBRE GIP and our research team as one of the key asset classes which a diversified, income focused investment strategy should take advantage of. Good quality buildings in well-established logistics hubs are expected to deliver strong income returns, particularly in the Western and Southern European markets, where the spread between bonds and prime logistics yields are still more than 450 – 550 bps. This seed portfolio, spread across four attractive markets, exhibits a sound degree of risk diversification, and delivers high and stable income. Meanwhile, the assets will benefit from our asset management expertise as we endeavour to generate additional value for our clients.”
CBRE Global Investment Partners is the independent division of CBRE Global Investors that delivers investment solutions customised for clients’ individual objectives by constructing portfolios using private funds, secondaries, co-investments and joint ventures, partnering with leading operators and fund managers for each strategy. Investments cover the risk spectrum from core to enhanced, can be global or regional in nature, and use a variety of investment vehicles based on clients’ preferences. GIP has $12.9 billion in assets under management* as of June 30, 2015. CBRE Global Investment Partners’ AUM includes investments in programs managed by the direct side of CBRE Global Investors. CBRE Global Investment Partners Limited is authorised and regulated in the United Kingdom by the Financial Conduct Authority (FCA).
CBRE Global Investors is a global real estate investment management firm with $88.4 billion in assets under management* as of June 30, 2015. 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 52,000 employees in more than 370 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.
TH Real Estate is an established investment management company, specialising in real estate equity and debt investment worldwide. As one of the largest real estate managers in the world, TH Real Estate has the scale, capital resources and knowledge to provide creative and effective real estate investment solutions for clients. With a focus on the retail, office, logistics, debt and multifamily residential sectors, TH Real Estate emphasises sustainable practices to protect assets and maximise their value.
The company is owned by TIAA-CREF, a US financial services and Fortune 100 company, with c.£557bn assets under management*. Launched in April 2014, TH Real Estate has a dedicated global presence with offices across America, Asia and Europe, representing c.£18.2bn* of real estate assets across c.50 funds and mandates. Together with TIAA-CREF’s US real estate assets, the global real estate platform of £55.3bn* represents one of the largest real estate investment management enterprises in the world.
Its products are managed by specialist teams, which apply their own experience to the management and style of their portfolios. Each team is supported by an experienced senior management team and integrated investment platform, including finance, debt and currency management, performance analytics, client service, fund and transaction structuring, development, sustainability and research.