IDI Gazeley, the logistics unit of US-based Brookfield Property Partners, has hired CBRE to manage a portfolio of 39 logistics assets covering a total area of 850,334 m2.

IDI Gazeley, the logistics unit of US-based Brookfield Property Partners, has hired CBRE to manage a portfolio of 39 logistics assets covering a total area of 850,334 m2.

Under the agreement CBRE will manage a portfolio of existing IDI Gazeley logistics properties and warehouse assets in prime European locations situated throughout Germany, France, Italy, Spain, Hungary and the UK.

The portfolio is leased to various pan-European tenants, including Geodis, L’Oréal, Asda Walmart, Lidl, Volkswagen, Mercedes-AMG, H&M, DHL, Norbert Dentressangle and Kuehne & Nagel amongst others.

CBRE said it will 'support IDI Gazeley in maximising each property’s value and provide a customer-focused property service with dedicated local teams'.

In total CBRE now manages 35 million m2 of assets across 25 countries in EMEA spanning industrial and logistics, retail, office and premier properties. In addition CBRE manages more than 250 shopping centres covering 6 million m2 in the same region.

Andy Hay, managing director of EMEA Asset Services at CBRE commented: 'It is not often that a portfolio of assets this impressive comes to market in one go across Europe. It is a huge feat, and is testament to our strong relationship with IDI Gazeley, to be entrusted to provide property management services across a portfolio of this scale.'