Key Takeaways
- • CBRE Investment Management agreed to acquire a portfolio of more than 57 logistics assets totaling 28.4 million square feet, valued at approximately $4.9 billion, from Hillwood Investment Properties, according to a Business Wire release.
- • The portfolio includes 33 U.S. assets totaling 19.2 million square feet and 24 assets across Germany, Poland and the United Kingdom totaling 9.2 million square feet.
- • CBRE Investment Management said it expects to close the assets in stages through its U.S. and European investment products, subject to customary closing conditions.
- • The deal is backed by the parent company's financial capacity and a $35 billion AUM global logistics platform, per CEO Chuck Leitner.
Summary
CBRE Investment Management, a subsidiary of CBRE Group, and Hillwood Investment Properties announced a definitive agreement under which entities affiliated with CBRE Investment Management will acquire a portfolio of more than 57 logistics assets with 28.4 million square feet of space in the United States and Europe. The portfolio is valued at approximately $4.9 billion, according to the companies' Business Wire release.
The portfolio comprises 33 U.S. assets totaling 19.2 million square feet and 24 assets across Germany, Poland and the United Kingdom totaling 9.2 million square feet. CBRE Investment Management expects to close on the assets in stages through its investment products in the U.S. and Europe, and the transaction is subject to customary closing conditions.
Chuck Leitner, CEO of CBRE Investment Management, said the milestone transaction reflects the firm's ability to leverage the financial capacity of its parent company to secure opportunities that drive strategic real assets solutions for clients. He noted the firm is backed by a $35 billion AUM global logistics platform. CBRE Investment Management formed a global sector-specific logistics team in June 2021 to strengthen its logistics expertise.
CBRE Investment Management reported $133.1 billion in assets under management as of September 30, 2021, across more than 30 offices and 20 countries. The firm is an independently operated affiliate of CBRE Group. Coverage from other outlets described the acquisition as a $4.9 billion global logistics real estate purchase, placing CBRE among the latest large investors in the sector.
The portfolio comprises 33 U.S. assets totaling 19.2 million square feet and 24 assets across Germany, Poland and the United Kingdom totaling 9.2 million square feet. CBRE Investment Management expects to close on the assets in stages through its investment products in the U.S. and Europe, and the transaction is subject to customary closing conditions.
Chuck Leitner, CEO of CBRE Investment Management, said the milestone transaction reflects the firm's ability to leverage the financial capacity of its parent company to secure opportunities that drive strategic real assets solutions for clients. He noted the firm is backed by a $35 billion AUM global logistics platform. CBRE Investment Management formed a global sector-specific logistics team in June 2021 to strengthen its logistics expertise.
CBRE Investment Management reported $133.1 billion in assets under management as of September 30, 2021, across more than 30 offices and 20 countries. The firm is an independently operated affiliate of CBRE Group. Coverage from other outlets described the acquisition as a $4.9 billion global logistics real estate purchase, placing CBRE among the latest large investors in the sector.
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