Inbest Completes its Purchase of a Property in Valencia from El Corte Inglés

5 March 2019 – Las Provincias

The fund manager Inbest Real Estate has formalised its purchase of an asset on Calle Colón in Valencia from El Corte Inglés. The property spans a commercial surface area of 7,600 m2, has 84 parking spaces and contains an office building measuring around 1,800 m2.

The deal forms part of an agreement reached between Inbest and the department store giant last August, which saw the fund acquire assets from ECI in Bilbao and Madrid for €184 million (for the three buildings).

Inbest was only created a year ago, but its portfolio already comprises iconic real estate assets worth more than €350 million, located on the main commercial thoroughfares of Madrid, Bilbao and Valencia.

Original story: Las Provincias

Translation: Carmel Drake

Riu Closes the Sale of Edificio España’s Commercial Space to Corpfin

1 February 2019 – Preferente.com

The 15,000 m2 of commercial space in Edificio España now has an owner. The party in question is Inbest Real Estate, the investment vehicle owned by Corpfin Capital Real Estate, which has signed a purchase agreement with the hotel chain Riu Hotels & Resorts, the owner of the property.

In a statement addressed to Preferente.com, the hotel chain explained that this agreement will enable the opening of five flagship stores for retail operators, including restaurant and textile firms, which will complement the opening of the new Hotel Riu Plaza España. “In that way, we will provide an even greater boost to the area through a tourist, leisure and commercial offer”, said the chain (…).

“We believe that having Corpfin Capital Real Estate as an ally to launch the retail space in Edificio España is the best way of getting the most out of the property”, said Luis Rui (pictured above, left), CEO of Riu Hotels & Resorts. Meanwhile, Javier Basagoiti (pictured above, right) Managing Partner of Corpfin Capital Real Estate, highlighted that their idea is “to choose the operators that best reflect the philosophy of the building, in coordination with Riu, respecting the hotel activity and configuring the premises towards the creation of flagship stores for first-rate operators” (…).

Original story: Preferente.com 

Translation: Carmel Drake