The U.S.-based CBRE, a consulting firm offering service for the real estate sector and shopping malls, has been engaged in talks with Metro Properties to gain a larger foothold in Turkey. CBRE manages over 150 shopping malls, offers real estate consultancy for many companies in Europe and has carried a transaction total of $56.1 billion and currently manages assets worth $48 billion. The firm has began negotiations with Metro Properties, which manages retail space totaling 517,500 square meters and includes the four Meydan shopping malls: Metro, Real, Media Market and Saturn.
Keeping name of the company they have been negotiating with to acquire undisclosed, Anthony Labadie, the managing director at CBRE Turkey, said that they had directly invested in Turkey two years ago thinking the country as great potential for the development of CRBT, adding, "The company grows both organically and inorganically. Therefore, we are seeking purchasing, merging and investing opportunities in Turkey." CBRE is also holding talks with leasing and consulting companies that have successful shopping mall projects to challenge its U.S.-based main rival Jones Lang La Salle (JLL), which is actively engaged in managing and leasing shopping malls in Turkey. It is almost certain that CBRE will also purchase a company in 2015.
Labadie noted that they hold all Nike stores in Turkey and has undertaken to rent stores at the Istanbul-based Palladium Tower and Kuriş Kule, both of which were constructed by Tahincioğlu Holding. Recently, the company purchased a company in Konya to offer production lines to Unilever and sold the Mey İçki factory in Tekirdağ and a shopping mall in İzmir. Labadie underscored that they offer consultancy service for foreign companies that want to invest in Turkey, and said, "With growth in the education sector and increase in the youth population, companies wishing to invest in real estate are eying markets to invest in student settlement areas and are requesting consultancy services from us on the matter. We will see investments in dormitories in the short term."
Keep up to date with what’s happening in Turkey,
it’s region and the world.
You can unsubscribe at any time. By signing up you are agreeing to our Terms of Use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.