Deka Puts the Ballonti Shopping Centre Up For Sale for €150M

26 April 2018 – Eje Prime

Deka is continuing with its plan to generate cash from its real estate assets in Spain and to this end, has placed the Ballonti shopping centre on the market. After paying €116 million to Eroski for the Basque shopping centre located in Portugalete (Bizkaia) eight years ago, the German fund is now asking for €150 million from the sale of the complex, which spans a surface area of 51,000 m2.

Following the steps announced by the Director of Retail Property Fund Management at Deka Management, Esteban de Lope, speaking to Eje Prime, recently, who said that “it is now more feasible for Deka to sell than buy”, the fund has placed the “For Sale” sign up over a new asset in its Spanish portfolio, which is worth €1 billion in total.

A few days ago, the German manager placed back on the market the majority the Inditex properties that it acquired at the beginning of this year for €400 million, as reported by Eje Prime. Around the world, Deka’s portfolio of assets is worth more than €35 billion.

Original story: Eje Prime 

Translation: Carmel Drake

134