CBRE Global Investors Agrees Sale of a High Street Retail Asset in the Netherlands | CBRE Investment Management

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CBRE Global Investors Agrees Sale of a High Street Retail Asset in the Netherlands

05 Jul 2021

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Corporate Communications Director

CBRE Global Investors, on behalf of the CBRE Dutch High Street Club (DHC), has agreed the sale of a 18,000 sq m high street retail property in Nijmegen, the Netherlands, in a share deal to developer/investor MWPO.

CBRE Global Investors acquired the asset in 2017, which was formerly a V&D department store, and within the hold period, the asset has been re-let and planning secured for a mixed-use redevelopment.

In 2018 and 2019, the department store was split into multiple units with retail units on the ground floor and the basement. The retail units have been let to Decathlon and TK Maxx with the upper floors planned for a mixed-use development. The repositioning of this asset has included the implementation of various sustainability measures, resulting in a 43% reduction in energy consumption.

Martijn Vlasveld, Portfolio Manager, CBRE Dutch High Street Club at CBRE Global Investors commented: “This transaction shows the strong interest for assets with mixed-use potential that are in locations in the city with high footfall*. I am very proud that we have been able to re-let the vacant retail units, implement several sustainability measures and have been granted permission to redevelop the upper floors, with the support from the municipality and developer MWPO. This transaction represents a good outcome for our investors, selling at an optimum time given both the lifecycle of the investment as well as the recovery of the footfall in the inner cities.”

CBRE Global Investors is a leading investor and operator in the European retail sector, with an AUM of circa €12.7 bn**, a rental area of seven million sqm across 16 countries.

CBRE Global Investors was advised by CBRE and Houthoff.

*Source: Locatus

**As of 31st March 2021

About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $129.1 billion in assets under management* as of June 30, 2021. 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:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2020 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees serving clients in more than 100 countries. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com

*Assets under management (AUM) refers to the fair market value of real assets-related investments 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 assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.