CBRE Investment Management, NW1 and URBZ Build Upon Existing Relationship with New German IOS Venture

CBRE Investment Management (“CBRE IM”), NW1 Partners and URBZ Capital have further strengthened their partnership through the launch of a new European Industrial Outdoor Storage (“IOS”) management platform, supported by an overall capital commitment of €300 million. Of this, €200 million of fresh commitments will be deployed in Germany.

This expansion builds on the success of the existing Netherlands-focused IOS venture, where NW1 and URBZ worked closely together in developing the platform. The new German venture marks the next phase of that partnership, with both firms jointly leading investment and asset management. The extension of the partnership involves establishing Europe’s first dedicated institutional IOS management platform, created to aggregate and scale portfolios in strategic industrial and logistics markets across the continent.

Through its Indirect Strategies division, CBRE IM has committed capital to the overall partnership on behalf of its global institutional investors and its real estate secondaries fund, Real Estate Partners 2 (“REP2”). The follow-on venture will focus on aggregating IOS assets in Germany’s industrial heartland and key logistics corridors.

The German IOS venture launches with three signed seed assets in Duisburg, Essen, and Cologne, anchored by high-quality tenants and underpinned by strong infill locations. The venture is actively seeking additional acquisitions and expects to build a portfolio of 30–40 assets over the next two years.

“This new German IOS venture further reinforces our partnership with NW1 and URBZ,” said Kilian Toms, Fund Manager, REP2 at CBRE IM Indirect Strategies. “Germany is Europe’s largest freight and manufacturing hub and we see a compelling opportunity to scale in this supply-constrained subsector. With significant capital to deploy, we are well-positioned to aggregate a high-quality portfolio and deliver strong returns for our investors.”

This venture builds on the IOS platform we have developed together with URBZ and CBRE IM,” said David Boyle, Managing Partner at NW1 Partners. “From the outset, NW1 and URBZ have worked as equal partners in shaping investment strategy, portfolio construction and execution. Germany’s IOS market remains highly fragmented and early in its institutionalisation, creating a rare opportunity to assemble scale through a disciplined and operationally driven approach. We look forward to continuing our partnership with CBRE IM and URBZ.”

This next step in Germany reflects the strength of the platform NW1 and URBZ have built together over recent years,” said Bram Verhoeven and Ali Nassiri, Managing Partners at URBZ Capital. “Our collaboration brings together investment judgement, sourcing capability and hands-on asset management into one integrated approach, enabling the platform to grow with consistency and discipline as we expand into new markets.”

“Germany comes at a particularly interesting point in the evolution of the IOS sector. The market remains fragmented and locally driven, while institutional awareness and tenant demand continue to strengthen. Together with NW1 and with the support of CBRE IM’s capital, we are establishing one of Europe’s first institutional-grade IOS platforms — starting in Germany and designed to scale across key logistics markets over time.”

About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $155.8 billion in assets under management* as of September 30, 2025, operating in 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 2024 revenue). The company has more than 140,000 employees (including 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.