CBRE APPOINTED BY IDI GAZELEY TO PROPERTY MANAGE LOGISTICS ASSETS ACROSS EUROPE

20th February 2015

Logistics BusinessCBRE APPOINTED BY IDI GAZELEY TO PROPERTY MANAGE LOGISTICS ASSETS ACROSS EUROPE

CBRE, the global real estate advisor, has been appointed by IDI Gazeley (Brookfield Logistics Properties), a leading global investor and developer of logistics real estate, to manage a portfolio of 39 logistics and warehouse assets spanning six countries across Europe covering a combined area of 850,334 sq m (9,149,598 sq ft).

Under the agreement CBRE will manage a portfolio of existing IDI Gazeley logistics properties and warehouse assets in prime locations situated throughout Germany, France, Italy, Spain, Hungary and the UK.

The portfolio is leased to a variety of pan-European tenants, many of them some of Europe’s leading brands and most successful companies including Geodis, L’Oreal, ASDA Walmart, Lidl, Volkswagen AG, Mercedes-AMG, H&M, DHL, Norbert Dentressangle and Kuehne & Nagel amongst others.

CBRE will support IDI Gazeley in maximising each property’s value and provide a customer focused property service with dedicated local teams.

In total CBRE now manages 35million sq m of assets across 25 countries in EMEA spanning industrial and logistics, retail, office and premier properties. In addition CBRE manages more than 250 shopping centres covering 6million sq m in the same region.

Andy Hay, Managing Director, EMEA Asset Services, at CBRE commented:

“It is not often that a portfolio of assets this impressive comes to market in one go across Europe. It is a huge feat, and is testament to our strong relationship with IDI Gazeley, to be entrusted to provide property management services across a portfolio of this scale. Our priority is to provide a truly joined up service across all of IDI Gazeley’s assets in each of the six countries, so each of the 39 properties is managed and utilised to its full potential.”

Ingo Steves, Managing Director & SVP IDI Gazeley Germany, Head of Operations Europe & China, commented:

“As a responsible long-term owner and operator of warehouses IDI Gazeley is committed to providing our customers with exceptional service, enabling them to concentrate on their own business. CBRE’s impressive track record as a leading property manager and our trusted relationship made them our partner of choice.”