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“We Are Going to Invest in the First-Class Shopping Parks”

3/07/2014 – Expansion

Less than one year old, investment management company TIAA Henderson Global Real Estate already possesses a €49 billion worth portfolio with assets scattered around Asia, Europe and the United States. Its developers are TIAA Cref and Henderson Global Investors, present in Spain since 2007 and managing almost €15 billion in property.

The latter runs five shopping malls in the country: the Nervión Plaza in Seville, the Miramar in Málaga, the L’Aljub in Elche, Getafe Bulevar in Madrid and the recently acquired Espacio Coruña. Moreover, the arm owns two medium-size parks: the Parque Mijas in Malaga and the Parque Meixueiro in Vigo, as well as a logistics platform in Madrid. As the company´s general director for Europe, Mike Sales, says “they are quality assets which maintained fair occupancy during the crisis, now faring much better.”

“We would like to invest in the entire Old Continent and Spain seems attractive to us. We are focused on the commercial real estate and we want to find partners among local, core and core-plus shopping center owners and investors”.

 

Original article: Expansión (by R. R.)

Translation: AURA REE