Germany's Commerzbank Group has merged its real estate units Commerz Grundbesitz Gruppe (CGG) and Commerzleasing und Immobilien to create one of the largest real estate managers and leasing providers in the world. The new company, Commerz Real, has about EUR 42 bn of assets under management, propelling it into third place on the list of the top 5 real estate asset managers.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
