The same sources assure that the South-African fund hired UBS as its financial advisor. According to its estimates, the operation may cost 700 million euro.
Castellana Properties, specialised in the retail sector, already owns 15 shopping centres in Spain, besides two office buildings. Its assets are estimated at more the 916 million euro and occupy a combined area of 343.147 sqm. This year, Castellana Properties carried out six strategic acquisitions which reinforced its positioning in terms of retail: El Faro (Badajoz); Bahía Sur (Cadiz); Los Arcos (Seville); Vallsur (Valladolid); Habaneras (Torrevieja) and Puerta Europa (Cadiz), apart from the recent acquisitions of the El Corte Inglés and the Hipercor in shopping centres Bahía Sur and Los Arcos.
Lar España is also noted for its specialisation in retail. The company’s portfolio includes 15 shopping centres, with a total GLA of 580.000 sqm and by the end of September it will open in Seville its fourth Lagoh shopping centre. During this year’s first quarter, sales from its shopping centres reached 160.6 million euro, with a 0.2% yoy growth, above the national average which had a 0.2% fall.