Myles Sanger, Portfolio Manager, CBRE Global Investors said: “This is another solid asset to add to the portfolio of one of our key global separate account clients. The property possesses strong investment fundamentals, lease covenants providing long term high quality stable cash-flow and we expect steady rental growth due to the prime location and the positive outlook for the Spanish economy.”
“This is the first acquisition in the Spanish market for this Korean client and we believe we have sourced a property that will perform very well for them. The Spanish economy is well positioned and expected to deliver strong growth in the forthcoming years. We continue to see significant transactional activity as international capital flows into Spain” added Antonio Roncero, Transactions Manager Spain, CBRE Global Investors.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $86.5 billion in assets under management* as of March 31, 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 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.