Investor appetite returns to the shopping center sector. The South African fund Lighthouse Properties has bought the Almeria Torrecárdenas complex from Bogaris for 172 million.
This is the first operation that Lighthouse carries out in Spain and it will be structured through debt and cash, since the South African investor will pay close to 80 million in cash, through a loan from Natixis, and will assume the 85 million debt that the center has , granted by Santander and CaixaBank.
Torrecárdenas was inaugurated in October 2018 and has a surface area of 61,589 sqm, of which some 20,000 sqm correspond to the retail park, and 3,000 parking spaces. Mercadona, Leroy Merlin, Media Markt, Yelmo, Primark and Zara, among many other brands, are part of its commercial and leisure offer, which has more than seven million annual visits.
According to Lighthouse calculations, the annual return that you can obtain with the rental income of this commercial complex in Almería, with an occupancy rate of 97.6%, amounts to 6.4%.
In the operation, RPE and Ashurst have advised Lighthouse, while Bogaris has had the advice of the consultants CBRE and Savills Aguirre Newman, in addition to relying on Cuatrecasas as legal advisor.