CBRE GIP links up with Cordatus on €207m UK investment spree

CBRE Global Investment Partners and Cordatus Real Estate have set up a £150 mln (€207 mln) UK investment programme targeting smaller assets in the retail, office and industrial sectors.

The programme, which will be operated by Cordatus, is targeting investment opportunities in strong micro locations, primarily in UK regional markets, with typical lot sizes of between £3 mln to £15 mln, with the aim to generate above market income distribution.

'This is our venture using institutional capital and builds on the success of our existing private client business, workout mandates and Joint Ventures,' said Tom Laidlaw, CEO at Cordatus Real Estate. 'We are bringing together Cordatus’ asset management expertise and CBRE GIP’s investment capacity and we are looking forward to building a long-term relationship beyond this initial commitment of £150 mln.'

Alex Bignell, head of UK, CBRE Global Investment Partners said: 'We see an opportunity to invest in smaller lot sized assets in the UK regions to deliver attractive returns for our clients.'

CBRE Capital Advisors acted as placement agent for Cordatus in raising the equity.