CBRE IM, formerly CBRE Global Investors, improved on its acquisitions tally last year despite an ultra competitive market for the asset classes it was pursuing.
The US firm disclosed it managed more than €8bn in 2021 on behalf of direct, indirect, infrastructure and credit business lines, with a staggering €4.4bn flowing to direct logistics acquisitions alone.
Meanwhile, it managed over €1bn in residential direct and indirect investments.
According to PropertyEU’s annual "Dealmakers" ranking, CBRE IM acquired more in 2021 than in 2020 when the pandemic first affected markets. In 2020, it managed a total of €4.4bn in acquisitions, meaning it almost doubled the 2020 rate in 2021. In 2020, it was ranked the 10th highest dealmaker in Europe.
Overall, CBRE IM says it transacted a total of over €14bn in Europe counting both acquisitions and disposals.
Rik Eertink, president EMEA Real Estate Division, said: ‘We remained disciplined in our approach to investment last year, despite a competitive market for our key investment strategies.’
Deal highlights included:
• A 150,000 m2 logistics warehouse complex with strong ESG credentials and the largest single-asset deal in Belgium
• Three Italian logistics assets totalling 156,000 m2
• A logistics portfolio in Benelux and Nordics consisting of multiple newly built, grade A high-quality warehouse assets
• An infill portfolio of logistics assets primarily around Heathrow Airport, UK for €183mln
• A residential scheme in Südkreuz, Berlin consisting of 664 residential units
• €800mln invested through indirect strategies into European affordable housing
• Three bus operators in Norway and Sweden to establish a Nordic bus platform
CBRE IM said this year it has over €4bn of dry powder to deploy.
The company added it still had conviction in the core office sector with over €1bn of direct transactions completed in 2021. The €350mln acquisition of Atlantic House, London, at the height of the pandemic in February 2021 is part of a strategy to invest in offices with ‘resilient appeal’.
Despite a challenging retail backdrop, the company did invest in retail opportunities and transacted nearly €1 billion retail assets in 2021.
