International real estate services firm CB Richard Ellis (CBRE) said on Friday that it has acquired the Belgian real estate consulting company C&T Retail for an undisclosed amount. The deal enables CBRE to establish an office in Antwerp, the property advisor added. Created eight years ago by Patrick Tacq and John Collin, C&T Retail focuses on retail property and counts several leader retailers in Belgium and Luxembourg among its clients. The purchase of the firm is the second for CBRE following that of retail property firm IDG in 2006.
International real estate services firm CB Richard Ellis (CBRE) said on Friday that it has acquired the Belgian real estate consulting company C&T Retail for an undisclosed amount. The deal enables CBRE to establish an office in Antwerp, the property advisor added. Created eight years ago by Patrick Tacq and John Collin, C&T Retail focuses on retail property and counts several leader retailers in Belgium and Luxembourg among its clients. The purchase of the firm is the second for CBRE following that of retail property firm IDG in 2006.
In a statement, CBRE said that the acquisition strengthens its market presence in Belgium which, the advisors added, remains strong, and the retail sector in particular is showing continued growth. CBRE added that almost 12 million m2 of space will be added to the Belgium market in the next few years.
Mike Strong, chairman of CBRE for Europe, the Middle East and Africa, said: 'Over the past 12 months a number of major retail brands have opened their first stores in Belgium and this trend is expected to continue. C&T Retail will help us to respond to this increasing market interest in Belgium and strengthens our retail position across the country.'
