Ores has Invested €362.5M in 35 Assets Across the Iberian Peninsula

16 April 2019 – Eje Prime

Ores, the Socimi owned by Bankinter and Sonae Sierra, has invested €362.5 million in 35 assets across the Iberian Peninsula since its creation, according to a report filed by the company with the Alternative Investment Market (MAB) at the end of Q1 2019.

During the first quarter of this year, the company purchased a retail store in Burgos with a gross leasable area of 724 m2 for €5.2 million.

The company’s portfolio comprises hypermarkets (28.1%), mini-hypermarkets (17.8%) and retail parks (15%), amongst others. Its assets are located mainly in Madrid and Barcelona, as well as in prime areas of provincial capitals.

Original story: Eje Prime 

Translation/Summary: Carmel Drake

Socimi Ores Acquires Stradivarius’ Premises in Burgos for €5.2M

29 March 2019 – Idealista

The Socimi Ores, owned by Bankinter and Sonae, has acquired a commercial premise in Burgos, occupied by Stradivarius, for €5.2 million. The store has a surface area of 724 m2 and is located at number 13 Calle Moneda. The purchase has been financed using available cash, taking Ores’ purchases so far this year to more than €92.2 million.

Original story: Idealista (by Custodio Pareja)

Translation/Summary: Carmel Drake

Óptima Retail Buys a Commercial Premise in Burgos

5 November 2018 – Eje Prime

Óptima Global Services is expanding its retail portfolio. The company has just closed the purchase of a commercial premise in Burgos, which it has carried out through its investment fund Óptima Retail, specialising in these types of assets.

The store is located at number 9-11 Calle Vitoria, one of the main commercial thoroughfares in the city. It has a surface area of 400 m2 and is currently leased by the perfume chain Douglas.

With this operation, Óptima Retail has achieved 90% of its investment objectives for 2018. Meanwhile, the parent company has whereby exceeded €600 million of assets under management. During 2019, the company plans to incorporate an additional €100 million, of which €30 million will be for Óptima Retail.

“The management of real estate assets and, therefore, asset management, has become the axis of the company’s strategy”, said Luis Vila, Partner and CEO of Óptima Global Services in a statement. “Most of our efforts in the future are going to be directed towards strengthening this service”, he adds.

Founded in 2004 and headquartered in Madrid, Optima Global Services is a group of companies dedicated to the real estate and energy sectors. One of the company’s areas of operation is the creation and management of real estate funds, both external and own funds. The company operates not only in retail, but also in the residential, industrial, hotel and alternative asset sectors, such as hospitals and student residences.

In addition to Optima Retail (its youngest vehicle), the company also operates with the fund Vastned, based in Amsterdam. In that case, Vastned focuses on assets located on the prime thoroughfares of European cities, with Madrid and Barcelona amongst the objectives in Spain. For example, Vastned’s assets include the properties at number 15 c/Ortega y Gasset and number 37 c/Fuencarral, in Madrid.

Optima Global Services also manages a portfolio of six shopping centres in Spain, located in Madrid (La Dehesa), Valencia (Mercado de Campanar), Zaragoza (The Street Outlet), Córdoba (Connecta), Ciudad Real (Puerta del Ave) and Vigo (Travesía de Vigo). The company manages assets worth €600 million.

Original story: Eje Prime 

Translation: Carmel Drake

Inbisa & Activ Group Invest €20M+ to Renovate Burgos Este Shopping Centre

15 March 2018 – Eje Prime

Inbisa and Activ Group have joined forces to spice up the commercial market in frosty Burgos. The property development arm of the Spanish real estate group and the Hispano-German firm are going to invest €20 million in the renovation of the Burgos Este shopping centre, located in the town of Villafría, very close to the city.

As joint partners in the project, Inbisa and Activ Group plan to inaugurate the site at the end of 2019. On a plot measuring 46,500 m2 and a constructed surface area of 26,000 m2, the Burgos Este shopping centre is going to become one of the largest spaces in the retail market in the province of Castilla y Leon.

The new shopping centre in the capital of Burgos aspires to become “an opportunity for economic growth for the whole city”, according to Manuel Balcells, Director General of Inbisa Inmobiliaria. “For our company, it represents a key piece in the puzzle to strengthen the development of commercial spaces”, said the executive.

In the residential area, the company closed 2017 having promoted more than 1,600 homes across different areas of the country, of which 223 were handed over. Inbisa Inmobiliaria’s residential development division ended last year with a turnover of €150 million.

Original story: Eje Prime

Translation: Carmel Drake

Carmila Buys 3 Shopping Centres In Spain For €77M

6 September 2016 – Expansión

Carmila – Carrefour’s real estate subsidiary – has acquired three shopping centres from Hispania Retail Properties for €77 million and has thereby increased the number of assets that it owns in Spain to 69.

Specifically, the company has acquired El Mirador in the province of Burgos, which has a surface area of 9,104 sqm and 3.5 million visitors per year; Montigalà in Badalona, which has a surface area of 10,668 sqm and 3.5 million visitors per year, and Atalayas in the centre of Murcia, which has a surface area of 10,024 sqm and five million visitors per year.

Meanwhile, the company has acquired fourteen stores in the Pince-Vent shopping centre in Ormesson (France) from the company Meyer Bergman. As a result of that transaction, the company has completed its acquisition of the entire shopping centre, which receives 5.1 million visitors each year.

Carmila, which is owned jointly by Carrefour (42%) and several large institutional investors (58%), invests in shopping centres that are adjacent to its Carrefour hypermarkets in Spain, France and Italy.

The Chairman of Carmila, Jacques Ehrmann, explained that with these operations, the Group has increased the value of its asset portfolio to €4,600 million. “The group is maintaining its value creation strategy thanks to a total portfolio of project investment amounting to €1,200 million and the development of innovation projects for the benefit of traders”, said Ehrmann.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

Catella Advises Sale Of 2 Retail Premises In Burgos & Cádiz

28 July 2016 – Press Release

The international real estate consultancy Catella has advised a Spanish investment vehicle on the sale of two retail premises, located in Burgos and Cádiz, and leased to Massimo Dutti, Lefties and Desigual.

The premises in Burgos are located on Calle Vitoria, 17, but are also accessible from Calle de la Puebla, 24-26. The asset is located on the best shopping street in the city, home to high profile tenants such as Zara and El Corte Inglés. It has a total surface area of 1,929 sqm, distributed over the ground floor, mezzanine level and basement. And it is leased to the Inditex Group for use by its commercial brands Massimo Dutti and Lefties.

The premises in Cádiz are located on Calle Columela, 23 (pictured above), the main shopping street in the city, alongside brands such as Mango, Zara and Massimo Dutti. The property has a total surface area of 225 sqm distributed over the ground and first floor. It is leased to the fashion chain Desigual, which is going to introduce its new concept soon.

According to Pablo Carvajal, Director of Capital Markets at Catella, “given the absence of products with attractive returns in the prime markets of Madrid and Barcelona, investors are now showing more interest in the best shopping streets in other cities, where they are finding high yields and first-rate tenants”.

About Catella

Catella is a listed international real estate consultancy and a leader in the Europen market. Catella adds value by combining its extensive knowledge of local markets with its own investment bank approach and its great capacity to generate investment opportunities.

Original story: Press Release

Translation: Carmel Drake