Adif & Riofisa Sell AVE´s Shopping Mall in Malaga

19/05/2014 – Expansion

The railway operator and the shopping mall developer join the real estate sales frenzy. Adif and Riofisa came to an agreement with a consortium of Brazilian businessmen and transferred to them the Vialia shopping mall, situated at the Benito Zambrano train station in Malaga.

The center was opened in 2006 and it is one of the two largest train station business parks in Spain. Its total area oscilates around 64.000 square meters with trading area of 45.456 meters. In 2013, over 14.4 million people visited the complex.

The new owners conducted the transaction through Global Phobos and paid about €65 million for the property, assisted at the sale by Banco Santander, Deloitte Real Estate and the Uría Menéndez lawyers office.

Vialia was held in 40% by Adif and in 60% by Nuevos Espacios Comerciales (Necsa), controlled by Riofisa.

Within Adif´s plan of streamlining assets in its balance, the operator put up for sale 1.500 houses, as well as several plots, trading premises and parking lots. By the end of the ongoing year, Adif will have put for an auction almost 600 properties.

Apart from the houses, Adif sold train stations in Bilbao and in Navarra. The first, La Naja, was acquired for €65.150, whilst the other, Corrella y Cascante, for €1.35 million. Also, Adif shed the old station of Príncipe Pío in Madrid.

During the first quarter of the year, the total investment in Spain hit €988 million, out of which €614 million corresponded to shopping center purchases.

Original article: Expansión (by R. Ruiz & C. Morán)

Translation: AURA REE

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