• Transaction / Assets
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Lar Buys Eroski Hypermarket In Alicante For €7M

11 June 2015 – Expansión

The Socimi Lar España Real Estate has acquired a hypermarket in the ‘Portal de la Marina en Ondara’ shopping centre (Alicante) from Altadena Invest for €7 million.

As a result of this operation, conducted through its subsidiary Global Brisulia, Lar España has added a gross leasable area (GLA) of 9,924 m2 to its portfolio. The consideration for the transaction has been disbursed “entirely from own funds”.

In October 2014, Lar España acquired a 58.78% stake in the company Puerta Marítima de Ondara, which owns the shopping centre in which the acquired hypermarket, operated by Eroski, is located.

The Socimi has indicated that this purchase “consolidates its position” in the “iconic” shopping centre in the region of Marina Alta (Alicante).

The company has explained that this acquisition “reaffirms” its objective to “realise long-term investments in the Spanish real estate sector, with a special focus on first class commercial assets”.

In this sense, its CEO, Roger Cooke, has underlined that Lar España “has strengthened its position in the face of future decisions to enable greater value to be added to the shopping centre, through the active management of the property”.

Original story: Expansión

Translation: Carmel Drake