Transaction / Assets Seller Buyer € MM
Alcampo’s RE Arm Buys Ábaco Cinema Building In Logroño
3 August 2016 – Larioja.com
The real estate arm of Auchan Holding, the firm that owns the Parque Rioja shopping arcade and Alcampo, has purchased the Ábaco cinema building in Logroño from Sareb, which owned 87% of the property, together with the Instituto Valenciano de Finanzas (IVF), owner of the remaining 13%.
The deal was confirmed yesterday by the so-called “bad bank” on its website. Sareb, which does not engage in any direct sales, has managed this operation through Servihabitat and Solvia, according to sources.
The Ácbaco building, which used to house 14 cinema screens and eight retail premises, has a constructed surface area of 9,373 sqm.
Sareb has not provided any figures, but all indications are that the total consideration amounted to €3.8 million, with the Valencian organisation receiving its corresponding share. (…).
Original story: Larioja.com (by María José Lumbreras)
Translation: Carmel Drake