29/09/2014 – Expansion
Brand-new transaction on the Spanish real estate market. Investment company Meridia Capital has bought the Albufera Plaza shopping center, situated in the south-east of Madrid, for the total of €21 million from fund General Electric.
The shopping mall of 27.780 built square meters and of 7.700 square meter GLA houses shops like Mercadona (2.000 square meter supermarket) and the main brands of textile chains of the Inditex group. Opened in 1991, the center offers 250 outdoor parking spaces.
The buyer, Meridia Captial led by Javier Faus, has recently welcomed Juan Barba in its team. In May, Meridia established a joint venture with Patron Capital, disposing of €800 million in funds ready to invest in Spanish property.
From January to August, investment in commercial centers in Spain exceeded €1.26 billion in 24 transactions.
Original article: Expansión (by Rocío Ruiz)
Translation: AURA REE