CBRE Investment Management Makes Land Acquisition for High-quality Logistics Development in Åstorp, Sweden
June 5, 2023
CBRE Investment Management (“CBRE IM”), on behalf of a fund sponsored by the firm, has acquired 77,000 sqm of land in Åstorp, Helsingborg, Sweden. The site will be developed into a high-quality warehouse asset totaling 46,000 sqm of lettable area.
The project will see flexible 1 to 3 units developed on a speculative basis and will target BREEAM Excellent certification. Completion of the development is expected in Q4 2024.
The plot is strategically located along the E4 highway East of Helsingborg, a top-ranked logistics area in Sweden. Helsingborg is regarded as a city with huge growth potential - it is the country’s second largest container port, and it will double its capacity due to the current substantial project to develop new container terminals in the south part of the harbor. Helsingborg is part of the greater transnational trade area Öresund, with excellent multi-modal connectivity to the cities of Malmö, Stockholm, and Gothenburg, and beyond to Copenhagen and Continental Europe.
Justine Weber Bret, Director of Asset Management & Transactions Logistics in the Nordics at CBRE Investment Management said: “The logistics sector has remained resilient in a time of wider market uncertainty, with demand remaining for well-located, high-quality and sustainable assets. This land acquisition constitutes a great opportunity to secure what will be a prime development from an early stage, and the excellent location paired with substantial growth potential support our ambitions to deploy and strengthen our logistics portfolio further.”
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $148.9 billion in assets under management* as of March 31, 2023, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2022 revenue). CBRE has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management 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 Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.