CBRE Group, Inc. (NYSE: CBG), the global commercial real estate services and investment firm, today announced that it has acquired full ownership of SOGESMAINT-CBRE, a property and asset management specialist operating in Belgium. CBRE has held a minority interest in the company since 2006.
SOGESMAINT-CBRE was established in 1973 and today it is one of the leading property and asset management businesses in Belgium. The company manages over 1.4 million square meters across 90 properties throughout the country and also provides project management and leasing services.
The company’s professional team will become part of CBRE’s leading EMEA Property and Asset Management practice, which manages over 35 million square meters of assets across the region with a focus on premier properties, shopping centers and major portfolios. In response to growing client demand, CBRE has significantly strengthened this capability in the region, underlined by its recent acquisitions of IMPACT-CORTI and Euro Mall Center Management, two property management firms operating in Central Europe, and SCM, a shopping center specialist in the Netherlands.
Michael Strong, CBRE’s Executive Chairman, EMEA, said:
“Our business continually evolves to ensure we meet the current and future needs of our clients. The SOGESMAINT-CBRE acquisition is part of this commitment, ensuring we have the leading property and asset management platform across the EMEA region, and builds on our recent acquisitions that have expanded our business in the Netherlands, Czech Republic, Slovakia, Poland, Latvia and Lithuania. Since first partnering with SOGESMAINT-CBRE in 2006, we have had an exceptionally strong relationship with them driven by our mutual focus on client service, industry best practice and innovation and I am delighted to bring them fully into CBRE.”
Gaetan Clermont, CBRE’s CEO, Belgium and Luxembourg, added:
“To maximize the value of their real estate investments, our clients are increasingly seeking expert property management services aligned with high quality investment, leasing and asset management advice. Fully integrating SOGESMAINT-CBRE into our Belgian business enables us to further enhance our service offering for the benefit of our extensive domestic and international client base.”