And this is not the only offer, according to daily newspaper Eje Prime, there are already several offers for the company’s share of this shopping centre located in Madrid. All offers are between 175 and 200 million euro, less than estimated at the end of last year – 270 million euro.
This 46 thousand sqm shopping centre has 220 shops and 8 thousand parking spots. It was acquired by British intu around 3 years ago for 530 million euro from Ivanhoé Cambridge. Not long after, it sold 50% of its share to American Nuveen Real Estate which is said to be following this process closely.
On the last Friday of June intu Properties advanced with collective insolvency proceedings, which are currently being managed by consultant KPMG. Besides this asset, intu also owns mega-project intu Costa del Sol together with Eurofund, which also started negotiations to buy intu’s share.
