CBRE has acquired PSM Center Management, a shopping centre management, leasing and consulting company in Switzerland.

CBRE has acquired PSM Center Management, a shopping centre management, leasing and consulting company in Switzerland.

Based in Zurich, PSM manages a portfolio of 11 shopping centres totalling 133,000 m2 on behalf of institutional clients and private investors.

Established in 2003, PSM also provides retail leasing and consulting services, including concept advisory and shopping centre due diligence.

CBRE has a portfolio of over 200 managed centres in Europe totalling more than five million m2. The firm also provides a full range of retail real estate services including investment sales, property and asset management, valuation, leasing, financing, facilities management and research/consulting expertise.

Michael Strong, CBRE’s executive chairman of Europe, Middle East and Africa, said: 'Our acquisition of PSM complements our strategy by allowing us to offer our retail clients a full range of strategic advice and implementation services that are unique in the Swiss market.

'The retail property sector is going through a period of rapid change. The growth of e-commerce and an increasingly sophisticated consumer base mean that retail investors and landlords have to work harder than ever to ensure the competitiveness of their assets.'