Tag: Lar España Real Estate

Lar España Invests €53M In Shopping Centre In Sagunto

29 September 2016 – Mis Locales

Lar España Real Estate has presented its plans for “VidaNova Parc”, a new project in which it plans to invest €53 million and which will open its doors in 2018.

VidaNova Parc has been presented with a surface area of 120,000 sqm, of which 44,000 sqm corresponds to the gross leasable area and the rest to open spaces, roads, gardens and parking spaces. It is being created to bridge a gap in the current market and will become a unique shopping centre and family leisure complex in its immediate environment. Around 250,000 inhabitants live in its catchment area (…).

Lar España’s investment in the project is expected to amount to €53 million, in addition to another €40 million that the operators moving into the shopping centre will have to invest. The complex will open its doors in 2018.

The site has a leasable surface area of 44,000 sqm.

With the launch of the construction work at VidaNova Parc, the first operators in the main consumer sectors have already been confirmed, including Leroy Merlín, Decathlon, C&A, Worten, Norauto, Burger King and Fifty Factory (Cortefiel Group). They will be joined by more than thirty brands….in this new shopping centre and leisure park. In addition, the centre will have 2,300 parking spaces.

José Manuel Llovet, Head of the Retail Area at Lar España Real Estate, has highlighted the strong presence of the company in the country through its ten shopping and leisure centres and the two projects that it has under construction. “Our mission, which is a major business priority, is to consolidate our activity in Spain; we want to grow with it, generate wealth, promote employment, and whereby boost the sector and innovate in the field of shopping and leisure”.

Original story: Mis Locales

Translation: Carmel Drake

Deutsche’s Socimi Trajano Debuts On MAB With A 4% Rise

31 July 2015 – Expansión

The socimi Trajano Iberia, which is managed and promoted by a division of Deutsche Bank, has debuted on the Alternative Investment Market (‘Mercado Alternativo Bursátil’ or MAB) with a rise of 4.01%, which saw its share price increase to €10.38.

By 12:00h, 2,650 shares in the company had been traded for a total price of €27,507.

The company, which yesterday became the sixth socimi to list on the market, debuted on the stock market after completing a €94.8 million capital increase, carried out by investors in the Wealth Management division of Deutsche Bank in Spain.

The company debuted on the market at a price of €9.98 per share, according to Spain’s Stock Exchanges and Markets body (‘Bolsas y Mercados Españoles’ or BME).

Trajano’s shares are traded through a price-setting system, which matches supply and demand through two daily auctions or “fixings” (at 12:00h and 16:00h).

The socimi has its eyes firmly set on office assets in “semi prime” locations in Madrid and Barcelona and “prime” locations in secondary cities. It is also looking at shopping centres and retail parks, as well as logistics assets in Madrid, Barcelona, Zaragoza, Valencia and the País Vasco.

The company expects to complete its investments within a maximum period of 24 months, although that timeframe may be reduced in light of the strong sentimient that currently exist in the real estate sector.

The company is managed by the team responsible for the real estate division of Deutsche Asset & Wealth Management in Spain and Portugal.

Currently, the entity manages real estate assets worth more than €46,000 million around the world, and €740 million in Spain and Portugal.

Deloitte acted as the Registered Advisor and BEKA Finance as the liquidity provider. (…).

Since last year, several companies have listed on the stock market under the socimi structure, including: Lar España Real Estate, Hispania, Merlin Properties, Axiare and Uro Property.

Original story: Expansión

Translation: Carmel Drake