All Market News: Spanish Real Estate Intelligence

ECE Excludes the Intu Asturias Shopping Centre from Trading on the Stock Market

The MAB is going to lose one of the Socimis that currently trades on this alternative stock market index. The company Asturias Retail & Leisure Socimi has announced its exclusion from the stock market, effective from 21 February.

The only asset that this real estate company owns is the Intu Asturias shopping centre, which the British group Intu Properties sold to the German fund ECE European Prime Shopping Centre Fund in December. ECE paid €290 million for the establishment.

Cerberus to start Building Rental Homes

Cerberus, one of the most important funds in the real estate sector in Spain, is going to enter the rental home market. The firm is preparing to bring some land onto the market which will be developed by its property developer Inmoglaciar and which will be offered to investors who want to take on rental home projects, according to Cinco Días.

The aim of the US firm, which is best known for its role as the largest buyer of real estate portfolios from Spain's banks, is to build more than 1,000 homes for rent.

GMP Sells Huawei's HQ in Spain for €127M

The Socimi GMP, controlled by the Montoro family, has completed the sale of the office complex in Castellana Norte, located on c/Isabel Colbrand 22 in Madrid. The fund Habert Management Corporation has paid €127 million for the property, according to a report filed by the listed company with the MAB.

The asset, which has a gross leasable surface area of 44,069 m2, is occupied almost in its entirety (89%) by companies such as the technology firm Huawei and Banco Sabadell. It was designed by the architect Rafael de La-Hoz’s studio and constructed in 2002 as a turnkey project for the former Airtel (now Vodafone).