BRUSSELS, 1 April 2014 – CBRE Global Investors has completed the acquisition of a logistics platform in Puurs, Belgium, for €22.7 million.
The 39,382 sq m Grade A building, which is divided into two units, is fully let to logistics provider DSV on two long term leases.
The asset is centrally located on the Antwerp – Brussels axis, one of the most prime and strongest logistics markets in Europe. The asset has been acquired on behalf of one of its separate account clients.
John Ozinga, Head of Separate Accounts Continental Europe, CBRE Global Investors, said:
“This asset fits with the requirements of our client as we are focused on enhancing direct returns and diversifying the portfolio across Europe.
Our client is in the process of repositioning its real estate portfolio and diversifying across Europe. After having executed the acquisition of the German logistics asset in Falkensee in February, this is the second acquisition this year on behalf of this client.”
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.1 billion in assets under management* as of December 31, 2013. 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.