Amsterdam
CBRE Global Investors sells five shopping centers in the Netherlands
20 Jun 2018
CBRE Global Investors, on behalf of the CBRE Dutch Retail Fund (the ‘Fund’), announces the sale of five Dutch shopping centres to a consortium of ARC Real Estate Partners and a US based private equity fund.
The assets that have been sold are:
1. De Maasboulevard, Venlo;
2. Shopping centre Corridor & Passage, Veenendaal;
3. Mercurius Centrum, Assen;
4. Shopping centre Stadhuispassage & De Stoep, Spijkenisse;
5. Shopping centre Elzaspassage, Helmond
The CBRE Dutch Retail Fund set out a clear strategy two years ago, to focus its portfolio on the most dominant retail locations in the largest Dutch cities. The disposal is an important final step in the repositioning process of the Fund. Over 75% of the Fund’s portfolio is now allocated to prime high street retail and shopping centers in the seven largest cities in the Netherlands, supplemented by dominant convenience hubs. The Amsterdam portfolio constitutes the largest weight in the Fund, with 25% of the total gross asset value of the Fund that is being managed in this market.
The Fund is actively looking to reinvest capital through active portfolio management and acquisitions in dominant high street locations and selected shopping centres in the Netherlands.
The Dutch Retail Fund is a leading non-listed core real estate fund managed by CBRE Global Investors.
CBRE Global Investors’ advisors were Cushman & Wakefield, CVO and Houthoff.
ARC Real Estate Partners was advised by Azul Real Estate, Search and Loyens & Loeff.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $104.2 billion in assets under management* as of March 31, 2018. 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 2017 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visitwww.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-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 asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.
The assets that have been sold are:
1. De Maasboulevard, Venlo;
2. Shopping centre Corridor & Passage, Veenendaal;
3. Mercurius Centrum, Assen;
4. Shopping centre Stadhuispassage & De Stoep, Spijkenisse;
5. Shopping centre Elzaspassage, Helmond
The CBRE Dutch Retail Fund set out a clear strategy two years ago, to focus its portfolio on the most dominant retail locations in the largest Dutch cities. The disposal is an important final step in the repositioning process of the Fund. Over 75% of the Fund’s portfolio is now allocated to prime high street retail and shopping centers in the seven largest cities in the Netherlands, supplemented by dominant convenience hubs. The Amsterdam portfolio constitutes the largest weight in the Fund, with 25% of the total gross asset value of the Fund that is being managed in this market.
The Fund is actively looking to reinvest capital through active portfolio management and acquisitions in dominant high street locations and selected shopping centres in the Netherlands.
The Dutch Retail Fund is a leading non-listed core real estate fund managed by CBRE Global Investors.
CBRE Global Investors’ advisors were Cushman & Wakefield, CVO and Houthoff.
ARC Real Estate Partners was advised by Azul Real Estate, Search and Loyens & Loeff.
About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $104.2 billion in assets under management* as of March 31, 2018. 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 2017 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 80,000 employees (excluding affiliates) and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visitwww.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-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 asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.