SCHIPHOL, 10 July 2014 – CBRE Global Investors, on behalf of one its separate account clients, has completed the acquisition of a logistics development in Venlo, the Netherlands for €28.4 million. The asset has been acquired from developer Built to Build Projectontwikkeling, and is located on business park Siberia.
The 42,000 sqm logistics development is currently under construction and delivery is expected to take place in early 2015. The asset is 55% let to a well-known logistics provider Seacon and discussions are on-going with other logistics providers regarding the remaining space.
Jeroen de Grunt, Portfolio Manager Separate Accounts Continental Europe, CBRE Global Investors, said:
“Our client is actively acquiring high-quality assets in the main European logistics hotspots, and this acquisition in Venlo fits very well with that strategy.
“We have acquired four logistics assets in the last six months in France, Germany and Belgium totaling €71 million. This acquisition is the first in a range of expected acquisitions in the Dutch, French, German and Czech markets.
“We expect to execute supplementary logistic acquisitions in the second half of 2014 and the first half of 2015, in order to further enlarge our client’s logistics portfolio.”
Dekkers Real Estate Advisory, CBRE and Loyens & Loeff acted on behalf of CBRE Global Investors.
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $90.2 billion in assets under management* as of March 31, 2014. 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 approximately 44,000 employees in approximately 350 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to 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 properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. 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.