CBRE GLOBAL REAL ESTATE INCOME FUND

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CBRE Global Real Estate Income Fund : Investment Management Acquires Affordable Residential Asset In Greater Copenhagen

06/23/2022 EDT
CBRE Investment Management ("CBRE IM"), on behalf of a fund sponsored by the firm, has acquired Project Strandhaven-Karlslunde ("the asset"), an 8,100 sq m affordable and sustainable residential asset in Karlslunde, Greve, Greater Copenhagen.

The asset is newly built and already fully let; it comprises 108 residential units, each with its own balcony or terrace, and 96 car-parking spaces, meeting the affordability and sustainability requirements of the strategy. The building is well-served by local transport links: Copenhagen Central Station can be reached in just 25 minutes by rail, whilst central Copenhagen is just 30 minutes away by car. The asset is located next to the train station and provides ready access to excellent shopping, educational, cultural and recreational amenities, including popular leisure destination, Karlslunde Beach.

Karlslunde in Greve is located to the south of Copenhagen, along the coastal line between Køge and Copenhagen. Greve has a growing population of around 33,000 and primarily attracts families with a higher household income than the average for Denmark.

Marius Schöner, Head of EMEA Residential Operator Division at CBRE Investment Management, said: "Karlslunde is mostly populated by detached family houses built in the 1960s and 1970s, and there is a distinct shortage of smaller, newly built private rental units, with little available land in the surrounding area for further development. Through this acquisition, we are able to meet the aims of this residential strategy which is to provide sustainable affordable rental homes for middle-income households. We will be delivering homes in an area that senior citizens are often priced out of the rental market and one of our impact objectives is to strive to create inclusive cities which we believe this scheme will contribute to."

CBRE Investment Management is a leading investor-operator in residential with €11.7 billion* residential assets under management and owns over 200 residential assets for the direct real estate division. The platform has a broad footprint across all major European residential markets and invests across a number of different investment strategies and programs including three residential specialised funds; All three strategies have an emphasis on making a positive social impact with two of the strategies specifically created to deliver good quality, sustainable and affordable rental homes.

* The figures shown combine both direct and indirect investments and are intended to illustrate the asset management presence of CBRE Investment Management in the European residential sector.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $146.8 billion in assets under management* as of March 31, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.

CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world's largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE's data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.

*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management's presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.

Disclaimer

CBRE Clarion Global Real Estate Income Fund published this content on 23 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2022 06:12:10 UTC.


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Net income 2021 346 M - -
Net Debt 2021 320 M - -
P/E ratio 2021 3,30x
Yield 2021 6,13%
Capitalization 942 M 942 M -
EV / Sales 2020 33,0x
EV / Sales 2021 35,5x
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Free-Float 100,0%
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Joseph Patrick Smith President & Chief Executive Officer
Jonathan A. Blome Chief Financial Officer
Thomas Ritson Ferguson Chairman
Robert S. Tull Secretary & Chief Compliance Officer
Asuka Nakahara Independent Trustee