Property adviser CB Richard Ellis has announced the acquisition of Euro Mall Centre Management (EMCM), a company specialising in the management of shopping centres and malls across Central and Eastern Europe (CEE).

The financial details were not disclosed.

Founded in 2002, EMCM offers property and asset management services across five key CEE countries - the Czech Republic, Slovakia, Poland, Latvia and Lithuania - for clients including Invesco, ING REIM and Carpathian Asset Management. EMCM has around 200 employees and manages over 40 properties region-wide, covering more than 658,000 m2 with over 2,400 tenants.

This transaction follows CBRE's recent acquisition of its Swiss affiliate, CBRE-PI Performance, and builds upon its strategy of continually enhancing the depth and breadth of its operations across Europe to improve services for clients.