CBRE Global Investors builds world-class retail team
- In Strategy
- 13:11, 18 April 2017
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CBRE Global Investors, a market leader in the European retail sector, has a restructured retail platform, enabling it to capitalise on its wide-ranging expertise across Europe.
CBRE Global Investors kicked off 2017 by drawing its wide-ranging team of retail experts into a new central structure to better share their extensive retail knowledge and expertise more widely across Europe.
The CBRE Global Investors’ Retail Platform is led by Head of EMEA Retail and Fund Manager Florencio Beccar. ‘This platform enables us to use our hugely knowledgeable team to better effect in applying their unique understanding of the retail landscape,’ he said, adding: ‘It will give us the edge in identifying the right assets, acquiring them and making them perform for our investors.’
CBRE Global Investors has €14.6 bn of retail assets under management in Europe which includes 76 shopping centres across 16 countries.
The new CBRE Global Investors Retail Platform brings the company’s best brains together to provide a more consistent approach to developing its retail assets across Europe. This includes sharing more consumer market research across the teams and investment in new reporting technology to more accurately assess the way the investors’ shopping centres are operating.
‘Our new approach has been developed over the last years, and we have completed several projects which are already showing results across Europe,’ explained Beccar.
At the end of 2016, the CBRE Global Investors’ European Shopping Centre Fund II (ESCF II) announced the final close of the fund at €753 mln. This includes €71.1 mln of co-investment capital and exceeded the original equity raise target. ‘The fund was oversubscribed which showed that investors are keen to support managers that off er a focused and specialist investment strategy,’ Beccar said.
CBRE Global Investors’ Retail Platform enables the team to really drill down into how each asset is managed and offer pan-European expertise, knowledge and advice to the asset management team on the ground.
CBRE Global Investors’ Retail Platform is rolling out a new Vibrant Marketplace Programme. Part of
this involves analysis of how each shopping centre is performing. ‘So far over the last year we have measured 11 of our assets across Europe,’ explained Beccar. ‘We began with a set of parameters on which to measure each one and have been looking at the customer journey and experience in each shopping centre.’
Every aspect of customer interaction with a shopping centre is being assessed, from travelling to the shopping centre, parking, e-commerce opportunities, the availability of public Wi-Fi, resting areas – even mobile phone battery charging points and mother-and-baby areas. ‘We want to ensure that the simple, basic services every shopping centre should off er are provided to a high standard and are upgraded appropriately,’ said Beccar. ‘Some of our assets have been trading a long time and it’s about refreshing their concepts, services and offer. Pooling our extensive retail knowledge and resources within our new Retail Platform allows us to gather ideas from across Europe, share new innovations and apply best practice more consistently and eff ectively to achieve investment growth.’
SUCCESSFULLY BUILDING ON RETAIL POTENTIAL
In December 2016, CBRE Global Investors purchased a trophy asset in Belgium. Médiacité shopping centre is located in the city centre of Liège, Belgium’s third-largest city. The regional centre provides 47,707 m2 of retail space, comprising 110 units, and includes 2,350 parking spaces. ‘Using our new Retail Platform, this is an example of CBRE Global Investors being able to off er best-inclass investment and property management services for the benefi t of the client with a concrete business plan on how to release the asset,’ said Beccar.
The purchase of Médiacité, a well-performing, dominant shopping centre in a second-tier city with dynamism and growth potential, is in line with CBRE Global Investors’ retail strategy. ‘There are signifi cant opportunities to improve the retail off er of such shopping centres,’ said Beccar. ‘Our pan-European knowledge enables us to bring new tenants into such centres to reinvigorate them and make them more appealing to shoppers. ‘It is on such projects that our new Retail Platform will really be able to add value to our investments,’ he added.
THE RETAIL TEAM
The CBRE Global Investors’ Retail Platform team are between them responsible for about 35 asset managers across 16 countries and the new pan-European team approach will enable it to continue to outperform in the market.
Florencio Beccar is Fund Manager of CBRE
Global Investors’ European Shopping
Centre Fund series and Head of Retail
EMEA. He has vast experience in the
sector, having successfully invested and
managed over €3 bn in shopping centres
across different countries in Europe.
PIET VAN POPPEL
Piet van Poppel, CBRE Global investors’
Country Manager for Belgium, will cover
the Benelux, France and the Nordics.
He is responsible for coordinating
and overseeing all transactions and
performing asset management for a
strong roster of international clients.
As Head of Investment Operations
for the Czech Republic, Slovakia,
Hungary and Romania for CBRE
Global Investors, Róbert Snincák
covers CEE and Germany. He is
experienced in property and asset
management of retail properties
including remodelling and
Catríona Hunter will coordinate
CBRE Global Investors’
activity in the UK. A director
of CBRE Global Investors, she
is responsible for shopping
centres within the International
Separate Accounts clients which
total £350 mln assets under
Antonio Simontalero provides
support in Southern Europe as
Head of Investment Operations
for CBRE Global Investors in Spain
and Portugal. He is responsible
for the day-to-day operations with
a focus on asset management
and growing the business through
active engagement in transactions.
Toby Smith will focus on monitoring all
the CBRE Global Investors retail deals
and lead on pan-European transactions.
As Portfolio Manager of the European
Shopping Centre Fund series, he is
responsible for transactions and asset
management of the funds.
Michael Matthews is CBRE Global
Investors’ Commercial Director Retail
in EMEA. He is responsible for driving
strategic leasing within CBRE Global
Investors’ retail business and ensuring
consistency and quality for tenant account
management across the portfolio.