CBRE Nets Majority Stake In $77M German Warehouse Deal

Law360, New York (January 10, 2012, 8:20 PM EST) -- CB Richard Ellis Realty Trust has gained a majority stake in the $77.3 million acquisition of two warehouses in Germany as part of its European joint venture with Australian financial services company Goodman Group Ltd., the real estate investment trust said Monday.

New Jersey-based CBRE acquired an 80 percent pro rata share in the deal, making its financial contributions to the purchase about $61.8 million, according to U.S. Securities and Exchange Commission filings.

The warehouses in Graben, Germany, have a total of 1.1 million square feet...
To view the full article, register now.