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

Optima Retail Buys Store in Marbella for €3M as part of €60M Investment Plan

12 September 2018 – Eje Prime

The retail sector in Marbella is attracting attention from investors. Optima Retail, one of the funds owned by the Spanish real estate and energy consultancy Optima Global Services, has acquired a retail outlet in Puerto Banús for €3 million. The operation forms part of the fund’s investment plan, through which it intends to disburse €60 million between now and 2019, according to explanations from Javier Alcalde, CEO of the group, speaking to Eje Prime. The objective will involve the firm spending €30 million in 2018 and another €30 million in 2019.

Launched in 2017, Optima Retail has just signed the purchase of the store located at number 17 Muelle de Benabolá in Puerto Banús from a family office. The asset, which has a surface area of 100 m2, is, and will continue to be occupied; it is let to the multi-brand footwear firm RKS. The operation has been advised by the real estate consultancy Catella.

The store displays the characteristics that the fund Optima Retail seeks for its portfolio: located in a prime area or provincial capital, as well as prices that do not exceed €4.5 million. The fund currently owns six units, located in cities such as Segovia, Vigo, Marbella and León.

Founded in 2004, and headquartered in Madrid, Optima Global Services comprises 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 for external clients and on its own behalf. The company operates in a number of sectors, from retail to residential, to industrial, to hotel and including alternative assets such as hospitals and student halls.

Besides Optima Retail (its youngest vehicle), the company also operates through the fund Vastned, based in Amsterdam. In that case, Vastned focuses on assets located on prime streets of European cities, with Madrid and Barcelona amongst its targets in Spain. For example, Vastned’s assets in the Spanish capital include the properties at number 15 c/Ortega y Gasset and number 37 c/Fuencarral.

Optima Global Services also manages a portfolio of six shopping centres in Spain, located in Madrid (La Dehesa), Valencia (Mercado de Campanar), Zaragoza (Plaza Imperial), Córdoba (Connecta), Ciudad Real (Puerta del Ave) and Vigo (Travesía de Vigo). The company manages assets worth €600 million.

Original story: Eje Prime (by P. Riaño)

Translation: Carmel Drake

Vastned Buys Its Sixth Retail Store In Madrid For c. €10M

21 December 2016 – Expansión

The Dutch group Vastned is continuing to expand its real estate portfolio in Spain. The company has just acquired its sixth retail outlet in Madrid for around €10 million. The property, which has a surface area of 600 m2, is located at number 37 on Calle Fuencarral and is leased to the sports clothing and equipment brand Décimas.

Following this operation, Vastned now owns three stores on Calle Fuencarral; it already owned number 23 and 25 on the Madrilenian street. “Fuencarral is one of the most sought-after retail areas for operators, investors and domestic brands looking to expand their businesses due to its high footfall. As a result, store rents and prices per m2 in the area are on the rise”, explained Enric Vial, CEO at Retail Prime Locations, which advised Vastned in the operation.

Vastned owns another store on Calle del Carmen, next to Calle Preciados (the most expensive retail street in Madrid), as well as on Calle Serrano 36, which is leased to the luxury firm Ferragamo. In November, it purchased another store, located on Calle Ortega y Gasset, for €16 million, which is leased to the luxury shoe designer Jimmy Choo.

Original story: Expansión (by R. Ruiz)

Translation: Carmel Drake

Dutch Firm Vastned Buys Jimmy Choo Store In Madrid

25 November 2016 – Expansión

The Dutch real estate group has strengthened its presence in Spain with the purchase of a luxury store at number 15 on the Madrilenian street of José Ortega y Gasset. The premises, which are occupied by the exclusive shoe and bag maker Jimmy Choo, have a surface area of 396 m2 spread over three floors – the basement, ground floor and mezzanine levels – . Market sources indicate that, given the location and characteristics of the asset, the store is worth between €15 million and €18 million.

The asset, which was previously owned by a private wealth fund, is located on Madrid’s Golden Mile, in the exclusive neighbourhood of Salamanca. The operation has been advised by the real estate consultancy JLL, which declined to comment on the transaction.

The Vastned group is headquartered in The Netherlands, where it is listed on the Amsterdam stock exchange. It owns assets in several European cities including Amberes, Madrid, Paris, Frankfurt and Istanbul.

The firm specialises in retail assets, which are located in prime areas and, therefore, susceptible to being leased to domestic and international luxury brands.

In the Spanish capital, Vastned owns two stores on Calle Fuencarral, at numbers 23 and 25, leased to Pepe Jeans and Crocs, respectively; one store on Calle Carmen 3, occupied by Real Madrid; and one store on Calle Serrano 36, leased to Salvatore Ferragamo.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

Baupost, GreenOak & Grupo Lar Buy 8 Shopping Centers in Spain

13/02/2014 – Cinco Días

Dutch real estate company, Vastned, announced yesterday putting on sale eight shopping malls in Spain at price of €160 million. The amount was paid by Baupost, GreenOak Real Estate and the Spanish developer Grupo Lar. According to a person with knowledge of the operation, the hedge fund Baupost led at the sales. The U.S. company bought 1.000 properties from BBVA in September last year.

The acquired shopping centers are found in Madrid Sur, Madrid Las Rosas, La Rosaleda in Málaga or Vistahermosa in Alicante. The lot is worth €160 million, however a discount has been applied at the moment of purchase. Specifically, in 2012, Madrid Sur was valued at €55.4 million, Las Rosas one, also in Madrid, at €42.8 million and the one in Málaga, La Rosaleda, at €40.2 million. In total, the shopping malls cover 133.500 square meter space with mean occupancy rate of 84.5%. (…).

The Dutch group admitted having put the lot on sale in attempt to reduce its €130 million debt. (…) What is more, Vastned claims that shopping centers are in excess in Spain.

Original article: Cinco Días (Alberto Ortín Ramón)

Translation: AURA REE

The fund Baupost is finalizing the acquisition of several malls for 180 million Euros.

The U.S. fund Baupost is finalizing the acquisition of a package of malls scattered around Spain. It includes Parque Vistahermosa, in Alicante, Mirador in Burgos, Atalaya, in Murcia, Montigola, in Barcelona, Las Rosas, Madrid Sur and Getafe III, all three in Madrid and the most important one, Rosaleda in Málaga.

The properties are included in the Spanish portfolio of the Dutch group VastNed Retail. Apart from the transferred malls, this real estate company specialized in retail owns several trade premises in Madrid, Barcelona and Castellón.

In its last presentation to analysts, VastNed admitted that the bad economic situation had affected the behavior of its malls, with a descent of rents. The Dutch group values at 13,7 million Euros the earnings it received from its commercial assets in Spain and Portugal.

Five years ago, the value of the portfolio of VastNed in Spain reached 409 million Euros. In 2011, the group put 50% of their national assets on sale, valuing them in 280 million Euros. After an unsuccessful offer last year, Baupost will now pay around 180 million Euros for the properties.

The operation is in its final stage awaiting a few details that could modify part of the transaction. Baupost could exclude two of the eight malls: Vistahermosa and Getafe III. “The operation will  probably be  closed before the  end  of  the  year  but,  as  these are secondary malls, that need an investment to update them, it is probable that they will exclude some properties”, a source close to the operation admits. (…)

Source: Expansión