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CBRE Buys ING’s Europe Real Estate Ops
NYSE-listed CBRE Group has acquired ING Group’s real estate investment management operations in Europe for approximately $540 million.
NYSE-listedCBRE Grouphas acquiredING Group’s real estate investment management (ING REIM) operations in Europe for approximately $540 million. The company will integrate these operations, which include theING Real Estate Selectglobal fund-of-funds business, with its existing real estate investment management business.
CBRE Global Investors, headquartered in Los Angeles, will be run byMatt Khourie, global president, and an executive team comprising senior executives of bothCBRE Investorsand ING REIM. Its assets under management are approximately $94.8 billion on a combined pro forma basis, as on September 30, with a total $900 million acquisition of ING REIM’s Europe and Asia operations and its global real estate securities business.
Click here for the release fromCBRE Group.