Frey buys Parque Mediterráneo for €83M

Frey buys Parque Mediterráneo for €83M

The fund manager has acquired Parque Mediterráneo (Cartagena) for a total of 83 million euros. Frey carried out this operation a few days after buying the Finestrelles shopping center in Esplugues de Llobregat (Barcelona), according to Expansión.

Parque Mediterráneo has an area of 66,000 square meters. It is the largest commercial complex on the Murcia coast and dominates an area of influence of some 400,000 inhabitants. Frey's plans are to carry out a modernization of the complex.

Parque Mediterráneo has among its tenants food, furniture and fashion operators such as Carrefour, Leroy Merlin, Decathlon and Media Markt. This center has guaranteed annual income of more than six million and an occupancy rate of 94%. In addition, it has the possibility of expanding its area by another six thousand square meters.

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