CBRE Group’s investment management arm has agreed to buy a $4.9bn (£3.6bn) logistics portfolio in the US and Europe from Hillwood Investment Properties.
The portfolio has more than 57 properties totalling 28.4m sq ft. Of these, 33 assets measuring 19.2m sq ft are in the US, while 24 covering 9.2m sq ft are in Germany, Poland and the UK.
CBRE Investment Management said it expects to close on the assets in stages through its investment products in the US and Europe.
Chuck Leitner, chief executive of CBRE Investment Management, said: “This milestone transaction reflects our ability to leverage the strong financial capacity of our parent company to secure compelling opportunities that help to drive strategic real assets solutions for our clients.
“Backed by a $35bn AUM global logistics platform and a skilled team with deep domain expertise, we are positioned to be one of the world’s leading investors and operators of logistics assets.”
The news comes after CBRE Investment Management formed a global sector-specific team focusing on logistics in June last year.
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