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CBRE Global Investors wins £120m property mandate

15 August 2012

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Global real estate investment management firm CBRE Global Investors has won a £120m mandate from EDS Trustee, the pension plan sponsored by Hewlett-Packard.

In a statement CBRE said it has already purchased four properties on behalf of EDS for £18 m, all are retail units and located in Worthing, Worcester, Truro and Leeds. They  were purchased as part of a wider £32 million portfolio purchase – The Orchid Portfolio, which also contains properties bought on behalf of other CBRE Global Investors clients. 

The mandate with EDS Trustee Ltd was signed earlier this month and required the establishment of a fully exempt unauthorised property unit trust, to allow two pension plans to co-invest in a UK portfolio with a target fund size of £120m.  

The portfolio purchase, from Threadneedle, was agreed off-market in May this year.

Tim Munn, senior director at CBRE Global Investors, said: "We are delighted to have won the EDS Trustee mandate and to have made what we consider to be four excellent purchases on their behalf. Further investments will be made over the coming 18 months and we look forward to working with EDS Trustee."

According to the latest data (30 June 2012) CBRE Global Investors holds $91.2bn in assets under management.


First published 15.08.2012

azeevalkink@wilmington.co.uk