The asset is a 15.000 sqm convenience retail park, based on a Mercadona supermarket and complimented by several tenants amongst which a gym and restaurants. The retail park is located at Avenida de Madrid and has a large parking garage.
«The acquisition of La Poveda by GIV Partners fits perfectly into our new strategy to invest in commercial assets, focused on well-located properties, based on a supermarket. With stable rents and a considerable potential to create value», declared Ezequiel Rodriguez Faílde, managing director in charge of businesses in the area for GIV Partners.
In terms of the vision GIV Partners have over the state of the retail parks and shopping centres’ market in Spain, Rodriguez Faílde believes that «although the pandemic accelerated and accentuated certain trends, the retail parks and shopping centres’ market has been under a transformation process for many years. The commercial assets will not disappear, but they are changing. Certainly, some concepts will not survive, but those companies capable of interpreting change and adapting their business models, will remain successful», he concluded