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Invesco Acquires Prada’s Flagship Store In BCN For €45M

22 June 2016 – Mis Locales

The fund manager Invesco Asset Management has acquired the Prada store in Barcelona on Paseo de Gràcia, 88, which was opened in November 2013.

Invesco has acquired one of Prada’s largest Flagship Stores in Europe, which is nestled in the so-called luxury stretch of the modern street next to the iconic La Pedrera building. The store has a constructed surface area of almost 1,800 qm as well as a terrace measuring 530 sqm.

The purchase has been executed by Invesco Asset Management for one of its High Street Prime funds, which seeks to acquire the best retail premises on the best streets in Madrid and Barcelona, as well as in other European capital cities.

The operation has been advised off-market by the Investment team at Aguirre Newman in Barcelona. “This operation is one of the most representative in the investment market in Barcelona in 2016, confirming the high degree of interest in the city from international funds in the city, which first arrived in 2015”, said Hipólito Sánchez, Investment Director at Aguirre Newman in Barcelona.

Original story: Mis Locales

Translation: Carmel Drake

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