Under the agreement CBRE will manage a portfolio of existing IDI Gazeley logistics properties and warehouse assets in prime locations situated throughout Germany, France, Italy, Spain, Hungary and the UK. 
The portfolio is leased to a variety of pan-European tenants, many of them some of Europe’s leading brands and most successful companies including Geodis, L’Oréal, ASDA Walmart, Lidl, Volkswagen AG, Mercedes-AMG, H&M, DHL, Norbert Dentressangle and Kuehne & Nagel amongst others. CBRE will support IDI Gazeley in maximising each property’s value and provide a customer focused property service with dedicated local teams.
In total CBRE now manages 35 million sq m of assets across 25 countries in EMEA spanning industrial and logistics, retail, office and premier properties. In addition CBRE manages more than 250 shopping centres covering 6million sq m in the same region.
“It is not often that a portfolio of assets this impressive comes to market in one go across Europe. It is a huge feat, and is testament to our strong relationship with IDI Gazeley, to be entrusted to provide property management services across a portfolio of this scale. Our priority is to provide a truly joined up service across all of IDI Gazeley’s assets in each of the six countries, so each of the 39 properties is managed and utilised to its full potential”, Andy Hay, Managing Director, EMEA Asset Services, at CBRE commented.
„We are delighted to anticipate the new task that will give further impetus to the growth course of CBRE’s Asset Services (Property Management) business in Hungary. The 12,000 and 19,000 sq m buildings are excellent opportunities for users and can generate a further increase in value for their owners with appropriate management. Beside shopping centers (Campona, Pólus) and office buildings (including Andrássy Palace, Liget Center) managed by us we starting business activity in a new area, and hope we can soon report about further mandates. Our goal is to make global leader CBRE market leader in Hungary as well”, said Zsolt Kákosy, Head of Asset Services at CBRE Budapest.
Ingo Steves, Managing Director & SVP IDI Gazeley Germany, Head of Operations Europe & China, added: “As a responsible long-term owner and operator of warehouses IDI Gazeley is committed to providing our customers with exceptional service, enabling them to concentrate on their own business. CBRE’s impressive track record as a leading property manager and our trusted relationship made them our partner of choice.”