This operation was carried out by Deutsche Bank’s specialised fund Hipoges, which will now be in charge of managing the asset. The bank’s plans for the future of the shopping centre include investing “several million euro” on its repositioning within the market so as to increase its occupancy rate which currently is around 30%, according to what regional newspaper Alicante Plaza ascertained from sources close to the process. According to the same sources, Juan Miguel Alonso, portfolio manager at Hipoges Iberia, should become the shopping centre’s chairman of the board.
Located at number 10 Avenida el Guirnei, in the municipality of Petrer, this asset has more than 15 shops, one cinema and a gym. Its management was until now carried out by family Bernabeu, which owns petrol stations.
This is not Deutsche Bank’s first operation this year, in March, the bank sold two office buildings located in Valencia and Seville to asset management company Mazabi for 70 million euro.