Commerz Real Capital, the fund manager of the German bank Commerzbank, is putting its Espai Gironès shopping centre, located in the municipality of Salt (Girona), up for sale. According to Expansión, the German fund manager is receiving offers and it is expected that these could exceed 150 million euros.
Espai Gironès has 46,000 square metres of floor space distributed over two floors and 2,500 parking spaces. Its location, facing the AP-7 motorway linking France and Barcelona, gives it access to a direct area of influence with more than 400,000 inhabitants. The shopping centre, developed by the Dutch real estate company AM, opened in 2005 and features brands such as Fnac, Odeon Multicinemas, Caprabo, Zara, Drim, H&M, Nespresso, Levi's, Bershka, Pull & Bear, Springfield, Desigual, Mango, Alain Afflelou and Sprinter, JD Sports, and Brighty&Co.
Commerzbank's fund manager has other investments in Spain. In particular, Commerz Real has several assets in Barcelona. The fund manager has a strong presence in 22@, with a 743-bed student residence, acquired from Hines and Henderson Park for 97 million last year.
It also has two office buildings in the same technology district. The German fund acquired the assets from Conren Tramway for €130m in 2019.
In Madrid, the German firm bought an office building on Avenida de Aragón in the Pegaso City business park two years ago with the intention of converting it into a two-star hotel.