British law firm Ashurst L.L.P. was the operation’s legal advisor.
The shopping centre, which has a 29.757 sqm GLA, has a wide clothing, leisure and food offer in 100 establishments spread across two floors. The clothing shops represent 59% of the GLA, with leading brands such as Primark, Zara, H&M, Lefties or Sprinter among others, followed by cinemas Yelmo and a Mercadona with more than 3.000 sqm each. The shopping centre also has 1.958 parking spots overground.
During last year Castellana Properties, specialised in acquiring, managing and rehabilitating retail assets and listed at Mercado Alternativo Bursátil (MaB), carried out 6 strategic acquisitions of shopping centres which reinforced its positioning within the retail market: El Faro (Badajoz); Bahía Sur (Cadiz); Los Arcos (Seville); Vallsur (Valladolid); Habaneras (Torrevieja) and Puerta Europa (Cadiz), apart from the recent acquisitions of the El Corte Inglés and Hipercor stores at shopping centres Bahía Sur and los Arcos.
With this acquisition, Castellana Properties’ portfolio now has 18 shopping centres, retail parks and offices which have a total combined GLA of 372.892 sqm. Thus the number of assets the company has in Andalusia increased to 7, followed by Extremadura with 4, the Valencian Community and the Community of Madrid with 2 each and Asturias, Castile and Leon and Murcia with 1 each.
Alfonso Brunet, Castellana Properties’ CEO, assures that «we are very happy to announce this acquisition which shows Castellan Properties’ be ton the Spanish retail segment and keeps consolidating us as one of the market’s main players. Castellan will keep working to increase the foundations of each asset and in that way increase the returns and the dividends for our shareholders. We will, furthermore, keep reforming our assets so that we can continue offering a better and wider offer on leisure, clothing and food which is what the clients demand now».
Press Released by Castellana Properties