CBRE Group, Inc. today announced that it has acquired PSM Center Management AG, a shopping center management, leasing and consulting company in Switzerland.
Based in Zurich, PSM manages a portfolio of 11 shopping centers, totaling 133,000 m² (1.4 million ft²) on behalf of institutional clients and private investors. Established in 2003, PSM also provides retail leasing and consulting services, including concept advisory and shopping center due diligence.
Michael Strong, CBRE’s Executive Chairman of Europe, Middle East and Africa, said: “Our acquisition of PSM complements our strategy by allowing us to offer our retail clients a full range of strategic advice and implementation services that are unique in the Swiss market."
Philipp Strebel, CEO, PSM Center Management, commented: “Our clients will benefit greatly from combining our leading platform and track record with CBRE’s broad reach and strength across all property sectors. As part of one of the world’s most integrated and respected commercial real estate services firms, we will be able to deliver more strategic advice, services and market insight to our shopping center clients, whether locally, regionally or globally.”