China Investment Corp., the Beijing-based sovereign wealth fund, acquired a portfolio of 10 shopping centers in France and Belgium for more than €1.3 billion ($1.4 billion) from CBRE Global Investors.
A CBRE Global Investors news release said the properties — comprising interests in two big shopping centers near Antwerp, Belgium, and eight across France — were held in the firm's closed-end CBRE Retail Property Fund France Belgium CV.
With the sale, the fund — launched in 2003 — has been wound down ahead of its termination date later this year, said the CBRE news release.
In a separate news release, the $747 billion China Investment Corp. confirmed it had completed the acquisition, but offered no further details.
AEW Europe will manage the properties for China Investment Corp.