Global investment giant CBRE Investment Management has inked a deal to acquire a 57-asset logistics portfolio in the US and Europe valued at approximately $4.9 bn (€4.3 bn) from Hillwood Investment properties.
The 57-asset portfolio comprises around 28.4 million ft2 (2.7 million m2) of modern logistics assets, divided between 33 assets in the US totalling 19.2 million ft2, and 24 assets across Germany, Poland and the UK, totalling 9.2 million ft2.
The transaction is subject to customary closing conditions, and CBRE Investment Management expects to close on the assets in stages through its investment products in the US and Europe.
Said Chuck Leitner, CEO of CBRE Investment Management: '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 $35 bn 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.'
CBRE Investment Management formed a global sector-specific team in June 2021 with a view to 'enhance and better align its global logistics expertise', according to the firm.
