8 November 2016 – Real Estate Press
TH Real Estate and Neinver have completed the purchase of the Nassica shopping centre from the private equity firm KKR for €140 million.
At the beginning of 2015, Neinver and TH Real Estate signed a strategic alliance to create a leading platform for outlet centres in Europe. Each company owns a 50% stake in the joint venture, which owns several assets in a portfolio that now also includes the complex located in Getafe (Madrid).
Nassica has a gross leasable area (GLA) of 50,200 m2 and 4,000 parking spaces. The centre receives twelve million visitors per year.
In this way, the joint venture between TH Real Estate and Neinver have acquired the complex in Getafe just two years after KKR purchased it for €100 million.
With operations in France, Germany, Italy, Poland, Portugal, Spain, The Netherlands and the Czech Republic, Neinver has consolidated its position in the European retail sector and now manages 24 centres, covering a GLA of 593,000 m2, housing almost 2,000 stores and more than 1,000 exclusive national and international brands.
Original story: Real Estate Press
Translation: Carmel Drake