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Shopping mall deals - Spain, Lar España buys two shopping centers in Spain for EUR 108 million

Date: 07 Aug 2014

Lar España buys two shopping centers in Spain for EUR 108 million

Lar España Real Estate bought the Ánecblau shopping center in the Castelldefels-Barcelona region for EUR 80 milion.

Ánecblau is located in the Catalonian tourist area of Casteldefells, only 18 km south from the city of Barcelona. The shopping center opened in 2005 and has 28,863 sqm of GLA (Gross Lettable Area) distributed in 75 stores, 3 commercial plants and 1,556 parking places on two floors below ground.

Its current occupation level is 91%. The center has national and international renowned key retailers as H&M (1,673 sqm), C&A (1,659 sqm), seven brands of Inditex Group (in 4,563 sqm from which Zara has 1,889 sqm), a Mercadona supermarket (3,156 sqm), as well as nine Yelmo cinemas.

In a separate transaction Lar España bought the Albacenter shopping centre in Albacete in the South of Spain for EUR 28.4 million.

The shopping centre, bought from Unibail Rodamco, has 15,696 sqm of GLA (Gross Lettable Area) distributed in 75 stores on two floors, as well as 1,223 parking spaces.

Albacenter is the main shopping center in the region of Albacete with an excellent location a few minutes by walking from the downtown. It was opened in 1996, expanded in 2005 and renovated in 2008. At the end of 2013 it had an occupation of 76%.

By Nicolas Morata

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