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

Dutch Firm Ten Brinke Buys 50,000 m2 in Ciempozuelos for New Retail Park

20 February 2019 - Eje Prime

New investment by Ten Brinke in Spain. The Dutch company dedicated to the development of residential properties and retail parks is going to build a new shopping complex in Ciempozuelos. The company has acquired a plot of land spanning 50,000 m2 and, over the next few weeks, it is going to begin work on the urbanisation of the future space. The new retail park will be a commercial hybrid with operators from the food, leisure and restaurant sectors, amongst others, although the company has not yet set a date for its future inauguration.

This project will join the one that the company is building in the Bahía de Cádiz with an investment of €20 million. There, Ten Brinke Desarrollos is building a new retail park on the Batería de la Ardila road, on the site of the former Tiro Janer industrial estate in the municipality of San Fernando. In that case, the property developer expects to finish the building work in 2020, and to open the complex the same year (…).

Ten Brinke Group is a Dutch multi-national with 115 years of experience in the development of residential properties and retail parks. It has been present in Spain for more than ten years and has offices in Madrid and Barcelona. The company also has offices in Germany, Portugal, the United Kingdom and Greece. On the global scale, it generates turnover of more than €950 million and has more than 950 employees, according to the latest data available on the company’s website (…).

Original story: Eje Prime (by Roger Arnau)

Translation: Carmel Drake

 
Prologis Acquires 5 Logistics Assets Spanning 58,000m2 in Madrid & Barcelona

18 February 2019 - Eje Prime

Prologis is growing in Spain. The US company, which specialises in logistics, has announced the acquisition of five logistics assets spanning a combined surface area of 58,000 m2. The properties have been acquired from Kefren and are located in Madrid and Barcelona. The operation has been carried out through Prologis European Properties Fund.

The five acquired properties have a high occupancy rate, with stable rental contracts and a diverse base of tenants, according to the company. Those tenants include a combination of external logistics suppliers and end users in the automotive and engineering sectors, amongst others.

Until the end of 2018, Prologis had undertaken investments in properties and projects under development spanning 71 million m2 in total across nineteen countries.

Original story: Eje Prime

Translation: Carmel Drake

 
Mabel Capital Purchases the Los Llanos Estate in Estepona for €20M

14 February 2019 - Preferente

Mabel Capital, the investment company owned by Abel Matutes Prats y Manuel Campos in which the sports players Rafa Nadal and Pau Gasol also own stakes, has completed the purchase of Los Llanos estate, on the beachfront in Estepona, spanning almost 40,000 m2, for €20 million. Luxury homes are going to be constructed on the plot, according to La Información.

The owner of the estate was the company Vee Inmuebles Estepona SL, behind which, as the administrator, was the German magnate Uwe Cloppenburg, owner of the retail textile chain Peek & Cloppenburg, who was asking €20 million for the plot in a single payment.

The estate has a buildable surface area of 10,000 m2, therefore, it may be used for single-family homes. The most likely outcome is the construction of luxury apartments on the beachfront in one of the most sought-after and expensive areas of the Costa del Sol.

In March 2018, the investment company owned by Matutes closed one of the most important real estate operations in Portugal. Mabel Capital acquired four buildings in Lisbon, for which it paid more than €74 million, as previously reported by preferente.com

Original story: Preferente (by R.P.)

Translation: Carmel Drake