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real-estate-transactions Market News: Spanish Real Estate Intelligence

Spain’s Tander Acquires Four Stores in Porto for €15.7 Million
12 August 2019 Tander Inversiones, a socimi backed by the Barcelona-based firm Gadina, has acquired four retail spaces in Porto for €15.7 million. The stores, three of which are currently leased, are located on Avenida dos Aliados, numbers 107, 115, 121 and 133. The four properties have combined surface area totalling 1,719 square meters. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
 
Frey Acquires Algarve Shopping and the Albufeira Retail Park for €179.3 Million
5 August 2019 The French firm Frey, which specialises in commercial urban planning, bought Algarve Shopping and the Albufeira Retail Park from CBRE GIP and Sonae Sierra in a deal worth 179.3 million euros. The shopping centre has more than 7.5 million visitors a year and a occupancy rate close to 100%.  Inaugurated in 2001 and expanded in 2004 to a total of 60,000 square meters of surface area, the shopping mall will continue to be managed by Sonae Sierra. Original Story: Jornal Expresso - Margarida Cardoso Adaptation/Translation: Richard D. K. Turner
 
AM Alpha Acquires BPlanet Shopping Centre South of Lisbon for €55 Million

28 July 2019 – Richard D. K. Turner

The Munich-based family office AM Alpha fund, in conjunction with Nordrheinische Aerzteversorgung, acquired the BPlanet shopping mall in Barreiro in a deal reportedly worth around 55 million euros.

The 35,369-square meter shopping centre, built in 2019 by a French construction company, has 1,700 parking spaces and an occupancy of 98%. The 73 existing tenants include companies like AKI, Decathlon and Jumbo.

This was the German fund’s second acquisition in Portugal after it acquired Mapfre’s headquarters at Rua Castilho, in Lisbon, for 16.7 million euros. The building is currently undergoing renovations.

Original Story: Economia Online - Rita Neto