CBRE acquires Dutch shopping center management specialist SCM Europe
London, 30 September 2011 – CB Richard Ellis Group, Inc. (CBRE) today announced the acquisition of SCM Europe BV (“SCM”), a leading Dutch shopping centre management company, further strengthening its leadership in the European retail real estate sector.
SCM provides property management, development consultancy and leasing services to a broad range of clients including Syntrus Achmea and ING Real Estate Investment Management. The company manages 59 retail assets covering 6.7 million sq ft of space. Its portfolio includes leading Dutch high-street shopping centres such as the Rotterdam Lijnbaan and the Eindhoven Heuvel Gallery, as well as the renowned Megastores in The Hague and the Megastores of Rotterdam Alexandrium.
CBRE’s pan-European retail business has grown significantly through both organic growth and strategic acquisitions, delivering on the company’s strategy of continually developing the depth and breadth of its services. Last month, CBRE acquired Michael Peddar & Company, a UK-based retail property specialist, focusing on the luxury goods and lifestyle sectors, and earlier this year, it purchased Euro Mall Centre Management, a major retail property manager in Central and Eastern Europe. In late 2008, CBRE acquired Espansione Commerciale, the market leader in shopping centre leasing and property management in Italy.
Mike Strong, Chairman & CEO of CBRE in Europe, Middle East and Africa (EMEA), said: “At CBRE, we are continually working to enhance and improve our services for clients. The acquisition of SCM Europe brings on board a best-in-class operator to deliver on this strategy and to further strengthen our business. This is our third strategic retail services acquisition in EMEA this year, expanding our leadership in the retail real estate sector and cementing our role as the leading provider of shopping centre management services in the region.”
Albert Hoogland, Managing Director of SCM Europe, added: “SCM Europe has grown to become the leading shopping centre manager in the Netherlands. By joining CBRE, a global leader with a like-minded focus on excellence and a retail advisory practice that is second to none, we will be able to deliver significant benefits to existing and new clients as we grow this business together.”
Marco Hekman, CEO of CBRE in the Netherlands, said: “Shopping centres are one of the most favoured investment assets in the Dutch market, due in part to their secure catchment areas, drawing significant investor interest. By combining SCM Europe’s shopping centre management expertise with the strength and breadth of our existing services and people, we are able to offer an even greater level of service and advice to our clients, and build on our leading position in retail property in the Netherlands.”