CBRE Global Real Estate Income Fund : Investment Management Acquires BTR Residential Project in Stockholm

CBRE Investment Management (CBRE IM), on behalf of a fund sponsored by the firm, has acquired a residential asset in Nacka, Southeast Stockholm, Sweden from Aros Bostadsutveckling AB publ.

The newly developed project, a forward commitment purchase agreed by CBRE IM in 2021, comprises four buildings including 104 residential units, 245 sq m of commercial space, and 52 parking spaces.

The asset is located near Orminge Centrum in Nacka, approximately 15 kilometers from central Stockholm. Nacka is a thriving residential area which is undergoing extensive development including a mix of new residential and commercial premises as well as improved infrastructure and sports facilities.

"We are very excited to be part of the transformation of the Orminge area, and these newly developed units will provide much needed homes where there is strong demand for rental units" commented Jenny Nygren, Transactions Manager Nordics, CBRE IM. "Vacancy rates are generally very low in Stockholm and by providing new homes, which we expect will be attractive to a younger generation, we have secured low-risk incoming producing assets."

"This acquisition is in line with CBRE IM's strategy, underpinned by structural drivers, to substantially grow the residential platform both in the Nordics and across Europe" added Jenny Tuleby, head of Transactions and Investment Operations, Nordics, CBRE IM.

About CBRE Investment Management

CBRE Investment Management is a leading global real assets investment management firm with $149.3 billion in assets under management* as of December 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 2022 revenue). CBRE has approximately 115,000 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.