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Redevco Iberian Ventures Buys 6 Retail Parks From Bogaris For €95M

27 April 2016 – Expansión

The shopping centres are located in Extremadura and Andalucía and have a combined surface area of 84,250 m2.

Redevco Iberian Ventures, the joint venture created between Redecvo and the funds managed by Ares Management, has acquired six retail parks located in Extremadura and Andalucía from the property developer Bogaris for approximately €95 million.

The parks, which have a combined surface area of 84,250 m2, are leased almost in their entirety to tenants such as the supermarket chains Mercadona, Aldi and Día, the fashion brands C&A, Kiabi and Merkal Calzados, and operators Burger King, Media Markt, Sprinter and Aki Bricolaje.

Specifically, the parks are: Mejostilla, in Cáceres; Kinepolis Pulianas, in Granada; Marismas del Polvorín, in Huelva; La Heredad, in Mérida; Retail Park, in Motril; and La Serena, in Villanueva de la Serena.

Ares and Redevco announced the creation of Redevco Iberian Ventures in September 2015 and following this operation, the total capital invested by the joint venture now exceeds €200 million. JLL and Deloitte acted as advisors to Redevco Iberian Ventures in the operation.

Original story: Expansión

Translation: Carmel Drake

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