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

Corpfin Sells a Commercial Premise in San Sebastián for €7M

30 November 2018 – Eje Prime

Corpfin is divesting in the north. The Spanish Socimi has sold a commercial premise in the centre of San Sebastián for €7 million. The purchaser of the asset, which is located at number 7 Calle Getaria, is unknown, according to a statement filed with the Alternative Investment Market (MAB).

Calle Getaria is, together with Calle Hernani y Arrasate, one of the most sought-after streets for the retail market in the Guipuzkoan capital. The asset used to be the headquarters of Kutxa, the savings bank of Guipuzkoa, until 2014 and is now home to a Pull& Bear store, a brand from the Inditex group. This divestment in Euskadi is the second undertaken by the vehicle in recent months, following the sale of Gran Vía 55 in Madrid in September.

In addition, and through Inbest, Corpfin Real Estate has disbursed €250 million in two large operations in Madrid and Valencia during the last quarter. The first was the agreement reached with Riu to acquire the commercial area in Edificio España for €160 million. And that was followed by the purchase from El Corte Inglés of a building in the centre of Valencia for €90 million.

Original story: Eje Prime 

Translation: 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