CBRE CLOSES LARGEST COMMERCIAL REAL ESTATE DISPOSITION IN CHILE

Santiago, Chile/Miami, FL – February 8, 2013 – (RealEstateRama) — CBRE Capital Markets professional Tim Gifford, FRICS, closed a major cross-border commercial property trade of a 600,000-sq.-ft. office portfolio in Santiago, Chile by Union Investment Real Estate (UIR). Aurus Renta Inmobiliaria, a Chilean institutional property fund, purchased the portfolio for $225 million, representing the largest commercial real estate transaction in Chile in 2012 by sales volume and size. Union Investment Real Estate’s strategy enabled them to realize an impressive gain on their investment of over 67% in Euro terms while generating over $50 million in profit for their investors. The investment strategy netted UIR’s investors an impressive internal rate of return of 15.65%