CBRE Investment Management, a subsidiary of CBRE Group, is buying US$4.9 billion worth of logistics properties from Hillwood Investment Properties.
The 57 properties total 28.4-million square feet in the United States and Europe.
The portfolio includes 33 U.S. properties, totaling 19.2 million square feet, and 24 across Germany, Poland and the United Kingdom, totaling 9.2 million square feet.
“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,” said Chuck Leitner, CEO of CBRE Investment Management.
“Backed by a $35 billion AUM [assets under management] 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.”
The transaction is subject to customary closing conditions. CBRE Investment Management said it expects to close on the various properties in stages through its investment products in the U.S. and Europe.
CBRE Investment Management formed a global logistics sector team in June 2021.
CBRE Investment Management had $133.1 billion in assets under management as of September 30, 2021, operating in more than 30 offices and 20 countries around the world.