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CBRE Global Investors buys Belgian shopping mall for €300M

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CBRE Global Investors buys Belgian shopping mall for €300M

Real estate investment manager CBRE Global Investors paid more than €300 million to acquire the Rive Gauche shopping mall in Charleroi, Belgium, from developer IRET Development NV, Property Investor Europe reported, citing Belgian publication De Tijd.

The 39,000-square-meter, 95-unit retail asset forms part of a larger development that also involves a hotel and apartments, the March 29 report noted.

IRET Development spent approximately €200 million on the development of the mall and plans to channel proceeds from the sale toward other real estate projects in central Charleroi, PIE added.