Tag: Carrefour hypermarket

Aberdeen & Catella Acquire El Manar Shopping Centre For €40M

12 July 2017 – Cinco Días

The firm Harbert Management Corporation has sold the El Manar shopping centre in Valencia for €40 million, according to sources familiar with the operation. The buyers are the companies Catella and Aberdeen, which have created a joint venture to undertake the transaction.

El Manar has a gross leasable area of 24,000 m2 and is located in the city of Massalfassar, in the metropolitan area of Valencia. According to the directory compiled by the Spanish Association of Shopping Centres, the property is managed by CBRE, was inaugurated in 2007 and comprises around twenty stores, with the Carrefour hypermarket proving to be the main draw. El Manar is also home to stores operated by Media Markt, C&A, Kiwoko, Sprinter and the toy shop Poly and it has 1,344 parking spaces. Each year, the centre receives 2.4 million visitors.

El Manar was promoted by the Pradera Group, and Harbert purchased it in 2014, in an operation whose consideration was not disclosed at the time. Three years later, the fund from Alabama has sold the asset in a deal that has been advised by CBRE and Eversheds Sutherland. Meanwhile, the buyers have been advised by the law firm Dentons.

Catella is a Swedish investment manager, which also acts as an advisor in real estate transactions. In Spain, the firm is led by Javier Hortelano.

Meanwhile, the British fund Aberdeen has €360,000 million under management around the world. In Spain, the firm is led by Ana Guzmán Quintana.

Original story: Cinco Días (by A. Simón)

Translation: Carmel Drake

Mitiska REIM Acquires Portal Mediterráneo Retail Park

29 September 2016 – Real Estate Press

Yesterday, Mitiska REIM, the leading specialist investor in retail parks in Europe, announced its entry into the Spanish market with the acquisition of the Portal Mediterráneo retail park in Vinaroz.

It is the first of several acquisitions that Mitiska REIM plans to make in Spain over the next few months, as a result of the improvement in the macroeconomic environment and the increased interest from commercial operators in retail parks in Spain.

Portal Medierráneo is a retail park that has a gross leasable area of 12,400 sqm, spread over 11 stores leased to brands such as Jysk, Bricorama, Norauto and Sprinter, amongst others. Located in Vinaroz, on the east coast of Spain on the border between the Community of Valencia and Cataluña it has a catchment area of 130,000 people, which increases to 250,000 during the summer. Similarly, Portal Mediterráneo benefits from the tourists that visit this area and from its location in a major retail area, alongside several other large stores including: a Carrefour hypermarket, a Decathlon shop, an Aldi supermarket and a McDonald’s restaurant.

The asset has been acquired by an institutional fund recently launched by Mitiska REIM, known as First Retail International Fund 2 (FRI 2), which has received support and advice from Catella Asset Management Iberia.

Mitiska REIM has also announced the appointment of Christophe Mouton as its Director in Spain and Portugal. Christophe will be responsible for acquisitions, developments and the management of partnerships with property developers and investors in retail parks across Spain and Portugal, with a special focus on the development of new retail parks. (…).

Mitiska REIM is a private company specialising in fund management and real estate investments, which is headquartered in Brussels (Belgium). Mitiska REIM invests exclusively in the peripheral retail park sector in Europe, in accordance with its strategy of (co)-development and adding value. (…).

Mitiska REIM recently announced the second satisfactory closure of its First Retail International 2 Fund (FRI2) for €190 million, which significantly exceeds its original aim of €150 million. (…).

Original story: Real Estate Press

Translation: Carmel Drake