(origineel Engelstalig persbericht, illustratie CBRE Global Investors (pand Mechelen) en Google Maps)
CBRE Global Investors has acquired two-recently opened retail properties in Belgium for a total purchase price of EUR 79.6 million, reflecting a net initial yield of 5.4%. The assets have been acquired on behalf of one of its separate account clients from developer MG Real Estate. The two assets in Ghent and Mechelen were both transferred immediately.
The asset details are:
- The Ghent asset is located in the pedestrian city-centre, on the corner of Vrijdagmarkt square and the retail high street Langemunt. It consists 11,454 sqm of modern retail space behind historical facades, and is anchored by Primark and H&M
- The five-store 6,795 sqm Mechelen asset is located on the prime high street “Bruul”, and anchored by MediaMarkt and Carrefour Market
Commenting on the transaction, Jeroen de Grunt, Portfolio Director, Separate Accounts Continental Europe, CBRE Global Investors said:
“These two good-quality, multi-let income driven investments are well located in their respective markets in Belgium. These acquisitions allow us to increase our client’s exposure to the Belgian retail market, after opening Leonardo retail park in Evere in May.
“Retail is a target sector for our client across Europe, but we are also investing in logistic assets and offices. We are closing several other acquisitions in Germany, Hungary, Italy and Denmark, and are actively working on the acquisition pipeline for the second half of 2015.”
With a 42-year track record, CBRE Global Investors has $37 billion in Separate Account assets under management* worldwide as of Dec. 31, 2014, which represents a 10 percent increase over the previous year. The firm raised $5.4 billion and deployed $5.3 billion in Separate Account equity on behalf of its investor clients globally in 2014.