Dolce Vita Miraflores back on the market for €5.3M

Dolce Vita Miraflores back on the market for €5.3M

Shopping centre Dolce Vita Miraflores is back on the market for 5.3 million euro, following two failed attempted sales during the last two years.

According to Negócios, Spanish bank Abanca, one of the shopping centre’s mortgage creditors, tried once again to sell it, at a base value of around half of what was determined by the assessment carried out three years ago by the bank.

Following Chamartín’s bankruptcy in 2015, the shopping centre was transferred to Abanca, along with other shopping centres, such as Dolce Vita Ovar, in Aveiro, or Central Park, in Oeiras. The bank asked for the insolvency of the societies which own the three shopping centres. Two of the shopping centres were sold in the Summer of 2019, and Dolce Vita Miraflores is the only one lefte.

The shopping centre was placed on the market for the first time in 2019. In March 2020, parties interested in buying the asset gave up the operation, for the lack of a financing guarantee, after declaring themselves willing to pay 6.8 million euro for the shopping centre, well above the 5.4 million euro initial bid. The shopping centre is now back on the market at the same price.

In the beginning of 2020, Atena Equity Partners alone offered 2.5 million euro for the shopping centre, a bid that was rejected for being too low.

According to idealista/news, Abanca claims about 35.5 million euro in credits from Dolce Vita Miraflores.

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