ASG places its 3 Shopping Centres in Spain for sale

ASG places its 3 Shopping Centres in Spain for sale
SOM Multiespai, Barcelona

The ASG fund (formerly known as ActivumSG) has begun the process of selling its three shopping centres in Spain: SOM Multiespai in Barcelona, Zubiarte in Bilbao, and Ruta de la Plata in Cáceres. These assets, which have a total surface area of approximately 75,000 square metres, are valued at around 150 million euros, according to Expansión.

SOM Multiespai, the largest of the three with more than 35,000 square metres, is located in the district of Nou Barris, Barcelona, and has been operating since 2001. It has around 40 shops, a multiplex cinema, leisure areas, a gym, a hotel, and an underground car park for 1,600 vehicles. Acquired by ASG in 2015, the centre was originally known as Heron City.

In the heart of Bilbao, the Zubiarte shopping centre houses 40 shops and almost 800 parking spaces on more than 22,000 square metres. Opened in 2004, it became part of ASG's portfolio in 2016.

Ruta de la Plata, located in Cáceres, has a surface area of almost 18,000 square metres that includes 60 shops, restaurant and leisure spaces, and 900 parking spaces. Opened in 1993 and refurbished in 2019, ASG acquired it in 2018.

Previously, ASG has made other relevant divestments, such as the sale of the Sexta Avenida shopping centre in Madrid to Socimi Saint Croix Holding in 2021, and of Espacio Torrelodones, also in Madrid, in 2020. In addition, in 2017 it sold Mercado Fuencarral in Madrid to AEW for €50 million, which is now a Decathlon.

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