Few months ago, CBRE Global Investors put up for an auction four shopping malls. The properties, part of ING Real Estate´s portfolio acquired by the fund in 2011, are situated in Vitoria, Vigo and Madrid.
The first to be transferred to a new owner was the Boulevard in Vitoria, bought by ING that outbid the Lar Group at the final bidding. That sale brought CBRE G.I. €130 million, while at the other sale of the Gran Vía de Vigo shopping mall sold to Oaktree it will gain another €115 million.
Still, talks are being carried out on selling the Alcalá Magna shopping park in Madrid for €85 million paid by Incus Capital. The sale process in case of the Moraleja Green center (also found in Madrid) progresses much slower.
Original article: Expansión
Translation: AURA REE