Investors - JULY 13, 2015

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CBREGI sells 10 shopping centers in Europe

by Andrea Waitrovich

CBRE Global Investors, on behalf of CBRE Retail Property Fund France Belgium CV, has sold 10 shopping centers in France and Belgium. The portfolio was acquired by a partnership between a subsidiary of China Investment Corp. and affiliates of AEW Europe. IREN reported the acquisition in June.

The 2.4 million-square-foot portfolio — which is valued more than €1.3 billion ($1.4 billion) by RPFFB — comprises interests in two dominant prime shopping centers in Belgium, Waasland and Wijnegem, which are both located near the city of Antwerp. The remaining eight assets are located across France, including the large urban shopping centers La Vache Noire in Paris and Mayol in Toulon, as well as inner-city shopping centers, a retail park and a group of high street retail assets.

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