Publications

Investors - JUNE 22, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

CIC buys European retail portfolio

by Andrea Waitrovich

The $653 billion sovereign wealth fund China Investment Corp. is under contract to purchase 10-property portfolio of European retail assets from CBRE Global Investors. An official announcement has not been released; however, Real Capital Analytics estimates the sales price to be €1.22 billion ($1.39 billion).

Assets include two properties in Belgium: the 493,874-square-foot Waasland shopping center with a €235 million ($266.9 million) sales price and the 656,604-square-foot Wijnegem shopping center with a €312 million ($354.9 million) sales price. The portfolio was placed on the market at the start of the year.

The Waasland center, located in Sint-Niklaas near Antwerp, is 100 percent owned by CBRE Retail Property Fund France Belgium, while insurance company AXA also owns 50 percent of Wijnegem shopping center, located on the other side of Antwerp. 

The acquisition also marks the Chinese investor’s first real estate deal in Fr

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy