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CB RICHARD ELLIS ARRANGES RECORD U.K. COMMERCIAL TRANSACTION

By Anonymous
Publication: Mortgage Banking
Date: Saturday, October 1 2005

CB RICHARD ELLIS GROUP INC., LOS ANGELES, announced that its London-based Capital Markets Group advised Abbey National plc, a subsidiary of Spanish bank Grupo Santander, in the sale of its 128-property commercial portfolio in the United Kingdom to ING Real Estate Investment (UK Funds) Ltd., Amsterdam,

The Netherlands.

The $2.2 billion sale marked the United Kingdom's largest commercial property transaction, said the company.

The 6.5-million-square-foot portfolio, which is currently 85 percent leased, is comprised of retail, office, industrial and other mixed-use properties located throughout Great Britain. CB Richard Ellis completed the transaction through a coordinated effort involving multiple business lines.

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