CBRE Global Investors was responsible for one third of all transactions in the Belgium market in 2015.
The Belgian office transacted EUR1.3 billion of deals in the country in a record year when volumes reached EUR3.96 billion in the market, according to CBRE Research.
Total investment volumes in Belgium for 2015 were at a record high since the crisis in 2008, with 55% of the total was in retail.
Important transactions from CBRE Global Investors driving the volumes were the sale of the Wijnegem and Waasland shopping centres as part of a portfolio in June 2015 to a partnership between a subsidiary of the China Investment Corporation and affiliates of AEW Europe, as well as the Galeries Saint Lambert centre in Liège sold on behalf of a European retail fund.
The sale of the landmark office building Bastion Tower in Brussels to Schroders Real Estate Investment Management contributed to the EUR1.2 billion of transaction volumes in the office sector. This was driven by the strong public sector occupier market as well as the international organisations whose headquarters are located in Brussels, such as the European Union and NATO. These occupiers have not been directly affected by an economic downturn and have kept the demand for commercial office space high, even during the financial crisis.
Piet Van Poppel, Country Manager Belgium said: “2015 was an incredible year for CBRE Global Investors Belgium resulting in a record year of transactions since the opening of our office in 1996.
“We have seen several newcomers in the market from Europe and Asian that have been attracted by the strong economic fundamentals of Belgium and its stable and defensive property market. Investments in Belgium allow investors to balance out their investments with those in markets with more volatility.”
‘We have a strong roster of international clients that continue to be actively looking to Belgium. For 2016, we have an acquisition target of EUR500 million and continue to source opportunities for our clients in the retail, offices and logistics sectors using our on the ground expertise.”
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About CBRE Global Investors
CBRE Global Investors is a global real estate investment management firm with $89.0 billion in assets under management* as of December 31, 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 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