CB Richard Ellis has bought N&T Real Estate for an undisclosed amount in order to boost its European retail team.
N&T Real Estate was established in 2004 by Nanne Nanninga and Krijn W. Taconis and represents many of the main Dutch retailers and property owners throughout the Netherlands. It handles agency leasing, tenancy representation, development consulting, investment sales, valuation and consultation. Some of its main clients include ING Real Estate, Bouwfonds MAB, TCN PP, Burgfonds and Rodamco
The purchase, which will complete in January next year, follows CBRE’s acquisition of another Dutch specialist property services firm Rietmeijer & Partners earlier this year. The deal is also part of a wider CBRE European expansion which has seen the purchase of Immobilière Développement & Gestion (IDG) in Belgium, industrial specialist Holley Blake in the UK, Corporate Property Management Services and Artequation in France, and Predibisa in Portugal. In 2005, CBRE bought UK retail specialist Dalgleish.
CB Richard Ellis said it now has more than 100 retail professionals operating across Europe as well as access to retail teams throughout Asia and North America.
Mike Strong, CB Richard Ellis’ EMEA president, said: ‘We have focused our European strategy this year on improving our reach across the major markets. Retail is an important service offering and the acquisition of N&T Real Estate will complement our existing retail platform.’