CBRE Global Investors acquires two retail properties in Belgium from MG Real Estate (BE)

CBRE Global Investors has acquired two recently opened retail properties in Belgium for a total purchase price of €79.6 mln, reflecting a net initial yield of 5.4%. The assets have been acquired on behalf of one of its separate account clients from developer MG Real Estate. The two assets in Ghent and Mechelen were both transferred immediately.
The Ghent asset is located in the pedestrian city-centre, on the corner of Vrijdagmarkt square and the retail high street Langemunt.  It consists of 11,454 m² of modern retail space behind historical facades, and is anchored by Primark and H&M. The five-store 6,795 m² Mechelen asset is located on the prime high street “Bruul”, and anchored by MediaMarkt and Carrefour Market.
Source: CBRE Global Investors