ANTWERP, Belgium—China Investment Corp., China's sovereign wealth fund, has purchased a major portfolio of European retail properties valued at about US$1.4 billion (1.3B Euros) from a fund managed by CBRE Global Investors.
China Investment Corp. acquired the properties in France and Belgium with affiliates of AEW Europe, according to Monday reports. The deal includes Waasland and Wijnegem, two centers near Antwerp, Belgium, as well as malls, a retail park and other stores across France, says a report from Bloomberg.
The properties have 221,000 square meters (2.4 million square feet) of space. Tenants include H&M and Zara, according to a statement from AEW Europe.
Bloomberg notes that overseas investors are buying retail properties in continental Europe hoping to profit from the gradual economic recovery.
Click Bloomberg to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
