Investors - NOVEMBER 22, 2016

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CBRE Global Investors acquires stake in $1.5b retail portfolio

by Andrea Waitrovich

CBRE Global Investment Partners, a division of CBRE Global Investors, has acquired a 45 percent interest in a $1.5 billion portfolio of 55 retail assets totaling almost 7 million square feet across 12 West Coast markets. The investment was made on behalf of GIP’s flagship Global Alpha Fund and various separate account clients. Merlone Geier Partners will remain the majority owner and operating partner.

The portfolio, which was assembled by MGP across five of its discretionary commingled funds, includes neighborhood, community and power centers with a strong tenant base. Key anchor tenants are primarily grocery and other necessity-based retailers, which historically have exhibited strong performance across market cycles and are expected be more insulated from competition by e-commerce. The portfolio provides a core-plus risk profile with a mix of in-place long-term income and short-term value creation opportunities through repositioning and lease-up.


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