CBRE Investment Management Sells 56,719 Sq M GLA Portfolio of Swedish Retail Assets to NIAM
March 23, 2023
CBRE Investment Management (“CBRE IM”), on behalf of a European shopping centre strategy, has sold two Swedish retail assets to real estate investment firm NIAM.
Port 73, a 35,000 sq m GLA hybrid shopping centre and retail park in Haninge southeast of Stockholm, Sweden, and Gallerian Nian, a 22,000 sq m GLA urban shopping centre in Gävle, a city 170 km north of Stockholm, are included in the deal.
Port 73 has a strong convenience offering with two supermarkets, a DIY and garden centre, as well as entertainment, F&B and fashion space. Gallerian Nian is located in Gävle’s city centre, and ranges over four floors offering a cinema, fashion space, around 4,000 sq m of offices, and 700 covered parking spaces.
Jenny Tuleby, CBRE IM’s Head of Transactions and Investment Operations for the Nordics said: “We are pleased to conclude this strategic sale on behalf of our clients. During our hold we have managed to improve layout, tenant mix and profile, and created a stable source of income. We see increasing demand for retail assets that are well-located and have a diverse and convenience anchored retail offering.”
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $149.3 billion in assets under management* as of December 31, 2022, 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.