Tomás Olivo Acquires the Dos Mares Shopping Centre for €28.5MM

5 July 2019 – Richard D. K. Turner

Tomás Olivo, the owner of  the socimi General de Galerías Comerciales, acquired 100% of the Dos Mares Shopping Centre in San Javier for 28.5 million euros. The Portuguese Group Sonae Sierra, which put the asset up for sale, had originally asked for €42 million but subsequently reduced that figure, due to a lack of investor interest, to €35 million.

Sonae Sierra and the Eroski group built the shopping centre in 2003, in a €36.5-million investment. One year later, Sonae took sole control of the asset.

Dos Mares has a gross leasable area of ​​almost 25,000 square meters, along with 1,250 parking spaces.

Original Story: Murcia Economía – Fernando Abad