13 May 2016 – Mis Locales
According to El Confidencial, the fund manager TH Real Estate has sold the L’Aljub shopping centre, located in the Alicante town of Elche, for more than €100 million. In addition, the firm has purchased a shopping centre in Bolonia, Italy, through its European Cities Fund, which represents the first acquisition by the fund that aims to secure financing amounting to €3,000 million – €3,500 million over the next five years.
The operator has taken the decision to sell off L’Aljub as part of a divestment strategy that will involve the sale of other assets all over Europe. TH Real Estate made its first investment in the Alicante shopping centre in 2007, although it did not complete its acquisition until 2014.
In Spain, TH Real Estate manages the following shopping centes: Bulevar (Getafe), Mexueiro (Vigo), Islazul (Madrid), Vialia (Málaga), Miramar (Fuengirola), Nervión (Sevilla), as well as Norteshopping (in Porto-Portugal). It also manages the Alovera Industrial Park (Guadalajara).
Original story: Mis Locales
Translation: Carmel Drake