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retail-shopping-centers Market News: Spanish Real Estate Intelligence

Heraclès Seeks to Build Two New Shopping Centres in Madrid and Linares
10 July 2019 – Richard D. K. Turner The French investment company Heraclès is in negotiations to buy an 18,000-m2 plot of land in Madrid and another 14,000-m2 plot in Linares, Jaén, for the construction of two new shopping centres. Negotiations for the site in Madrid are expected to conclude by the fall.   Heraclès has already begun sales of stores in the new retail park in Linares to facilitate acquisition of the land and request the necessary licenses. The firm expects to finalise its purchase in the coming months. Original Story: Eje Prime - Marc Vidal Ordeig  
 
Eroski to Sell Hypermarkets in Southern Spain
10 July 2019 – Richard D. K. Turner The Basque chain Eroski is selling a series of hypermarkets due to an agreement with its creditor banks to refinance a debt of €1.542 billion. The markets are all located in southern Spain, whereas the bulk of Eroski’s operations are based in the northern part of the country: Galicia, the Basque Country, La Rioja, Catalonia and the Balearic Islands. Given the hypermarkets’ geographical disparity, Eroski opted not to mandate a single advisor to complete the sale. Rather, it will work will a series of advisers to sell the individual assets. Original Story: Idealista
 
Inbest Debuts on MAB Valued at €83 Million
10 July 2019 – Richard D. K. Turner Inbest, a socimi which focuses its investments on major retail store locations, debuted on Spain’s alternative stock market (MAB) valued at 83 million euros. The socimi owns three El Corte Inglés commercial premises and the commercial gallery at Madrid’s Edificio España. The company, which was founded by Corpfin Capital and currently chaired by Javier Basagoiti, is structured in four investment vehicles that have a total investment capacity of 278 million euros. Original Story: Eje Prime