Commercial real estate firm CBRE is in talks to acquire leading asset management firm Sovereign Centros, according to reports.

Sovereign Centros says it has 12.5 million sq ft of assets under its management, with an additional 4 million sq ft in the pipeline.

Its current portfolio includes a number of shopping centre and retail park assets, including Gateshead’s Metrocentre, Merry Hill Shopping Centre in Dudley, and Basingstoke’s Festival Place.

The firm also works with a number of global institutions, pension funds, and public bodies on various town centre projects with partners such as Blackstone, Morgan Stanley, Wells Fargo, and BNP Paribas. It also works with Tesco and Frasers Group.

CBRE operates from over 500 offices in more than 100 countries, working across multiple facets of real estate, including investment, planning, design, and portfolio management.

The firm was recently appointed as investment advisor for the Greater Manchester Property Venture Fund.

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