CBRE GI reached €6.3b of EMEA deals in 2020

This includes €4.4 bn of acquisitions and €1.9 bn of disposals.

Rik Eertink, president EMEA real estate division, CBRE Global Investors, said: 'Covid-19 has had a negative impact on the global market as a whole, but despite the challenges we have delivered a strong performance in the region.

'We continued to invest throughout Europe during the year, with the expertise and presence of our local teams attributing to our success over the period.'

Two thirds of acquisitions in 2020 were in the residential and logistics sector, two key investment areas for the firm, with continued investment in offices.

Over a quarter of sales were in retail spanning multiple countries including the UK, Germany, Netherlands and Nordics.

Other notable acquisitions included a residential portfolio of 916 Dutch rental properties, the majority of which are single-family houses and all of which have a green energy label, Premier Place, a 229,129 ft2 (21,290 m2) Grade A office building in London and a mixed-use scheme in Berlin consisting of 26,000 m2 offices, residential and retail.

During the period there has also been investment in the European last mile logistics portfolio for indirect real estate strategies.

Frans van Toor, head of transactions EMEA for direct strategies, CBRE Global Investors, said: 'Repercussions of the pandemic are still being felt by the market, and while we have witnessed a cautious start to the year we anticipate meaningful pickup in activity in Q2.

'For 2021 we will be focussing on residential, logistics and office strategies, with specific attention for vibrant mixed-use destinations.

'We’re confident that as the markets continue to improve and activity increases, we will be successful in identifying new opportunities and are well positioned to exceed transaction volumes from last year and meet our investment targets for 2021 on behalf of our clients.'

Globally, CBRE Global Investors completed €15.4 bn in private real assets transactions in 2020.