CB Richard Ellis has announced the acquisition of SCM Europe, a Dutch shopping centre management company in a bid to boost its position in the European retail real estate sector.

SCM provides property management, development consultancy and leasing services to a broad range of clients including Syntrus Achmea and ING Real Estate Investment Management. The company manages 59 retail assets covering 620,000 m2 of space. Its portfolio includes leading Dutch high-street shopping centres such as the Rotterdam Lijnbaan and the Eindhoven Heuvel Gallery, as well as the renowned Megastores in The Hague and the Megastores of Rotterdam Alexandrium.

CBRE's pan-European retail business has grown significantly through both organic growth and strategic acquisitions. Last month, CBRE acquired Michael Peddar & Company, a UK-based retail property specialist, focusing on the luxury goods and lifestyle sectors, and earlier this year, it purchased Euro Mall Centre Management, a major retail property manager in Central and Eastern Europe. In late 2008, CBRE acquired Espansione Commerciale, the market leader in shopping centre leasing and property management in Italy.