Transaction / Assets450-space parking lot, Zaragoza SellerIbercaja BuyerIndigo € MM
Ibercaja Sells 450-Space Parking Lot In Zaragoza To Indigo
13 October 2017 – Inmodiario
JLL, the professional services firm and investment manager specialising in the real estate sector, has advised Ibercaja on the sale of the San Ignacio de Loyola parking lot, located in the centre of Zaragoza, The purchaser has been the parking lot manager Indigo, the global mobility leader, which has a presence in 16 countries, including Spain.
The asset has a surface area of almost 20,000 m2, distributed over 500 parking spaces in total, of which 450 have been included in the transaction perimeter; the remaining 50 spaces will continue to be owned by Ibercaja.
The parking lot is prized due to its excellent location, in the heart of Zaragoza, between Calle San Ignacio de Loyola and Paseo de la Constitución, next to El Corte Inglés and close to Plaza Paraíso, an important transport hub in the city. Similarly, the area stands out because it is home to a large number of homes, as well as several major commercial and office spaces.
For Loïc Delcroix, Indigo’s Director General in Spain and Director in Europe: “This significant operation fits perfectly into our expansion and growth strategy in Spain. (…). The operation also serves to reinforce our position as one of the main mobility players in the country”.
For Ibercaja, this operation comes in response to the objective to divest non-strategic assets and, in this way, focus all of its efforts, media and resources on boosting the banking business and implementing the digital transformation, whereby fulfilling the route map established for the strategic cycle 2015-2016.
In the words of Nick Wride, Director of Alternative Assets at JLL, this operation “is another example of the great interest that exists in investing in alternative real estate assets in Spain, a market with enormous potential that will continue to grow at a rapid pace over the next few years”.
Original story: Inmodiario
Translation: Carmel Drake