European retail portfolio put on the market
CBRE Global Investors has plans to sell 10 shopping centers in France and Belgium for €1.2 billion ($1.36 billion), according to various European outlets. The transaction aims to close by the end of 2015.
The portfolio includes La Vache Noire in Arcueil, France; Mayol in Toulon, France; the Marques Avenue in Troyes, France; the Centre Commercial Bosquet in Pau, France; and two shopping centers in Belgium.
The properties are held by the fund RPFFB, also known as the Retail Property Fund France Belgium. It has been managed by CBRE Global Investors since the acquisition of ING Real Estate Investment Management by CBRE Group in 2011.
The fund is maturing this year, and it is selling off properties to return capital to investors.