Sevilla Factory sold by Gore Spain

Sevilla Factory sold by Gore Spain

This operation was carried out by selling 100% of investment company Hardwood’s capital stock, according to the Spanish REIT on a release issued at BME Growth. The buyer’s name was not disclosed.

This asset is considered Andalusia’s prime outlet, it opened in 1999 stimulating Seville’s Dos Hermanas area. It has a total 20.000 sqm, of which 16.289 sqm correspond to the GLA. Offices and a warehouse occupy around 1.000 sqm on the first floor. The shopping centre also offers its clients 1.200 parking spots, revealed daily newspaper Eje Prime.

The shopping centre has a total of 30 shops and 4 restaurants. Amongst the brands represented in this complex are Stradivarius, Benetton, Cortefiel, Lefties, restaurant 100 Montaditos and Burger King.

The Spanish REIT sold the asset after owning it for 5 years. In 2015, it acquired it from Unibail- Rodamco-Westfield for around 15 million euro, recalled Eje Prime.

This was the REIT’s first transaction registered by Iberian Property this year. At the end of 2019, Gore Spain’s portfolio was estimated at 37 million euro, and it also includes a 10-floor office building located at number 225 Carretera de Esplugues in Barcelona. At the beginning of 2019, the REIT sold a 5 office building portfolio in Madrid for 74 million euro and not long after a logistic warehouse in Valdemoro – also in Madrid – for around 9.8 million euro.

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