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

Barings Lends Kronos €40 Million to Finance Construction of New Shopping Centre
6 August 2019 The Kronos Investment Group announced that it had arranged a €40-million loan with Barings to finance the construction of a new shopping centre in the town of Dos Hermanas, Seville. The investment manager has lent 40 million euros to the union between the developer and another company to build a commercial park of 48,646 square meters and 2,000 parking spaces. The new complex will have 64 stores, 70% of which have already been pre-leased. Construction is set to begin shortly and the mall is slated to open by the summer of 2020. Original Story: Eje Prime Adaptation/Translation: Richard D. K. Turner
 
Castellana Properties Acquires Puerta Europa Shopping for €57 Million
5 August 2019 Castellana Properties, the socimi controlled by the South African fund Vukile, acquired the Puerta Europa shopping centre in Cadiz for 56.8 million euros. Located in the town of Algeciras, the shopping centre opened a decade ago and has more than 100,000 square meters of surface area, of which 29,531 square meters are commercial area. The mall has an area of influence with more than 250,000 inhabitants, and has 100 stores, including a wide range of fashion and leisure shops and restaurants. Tenants include such established brands as Primark, Zara, H&M, Yelmo cinemas and a Mercadona supermarket. Original Story: Expansión - Rocío Ruiz Adaptation/Translation: Richard D. K. Turner