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Castellana Properties buys 2 stores for €36.8M
28 May 2019 | Vanessa Sousa

Castellana Properties acquired two stores from El Corte Inglés. One at Bahía Sur Shopping Centre in Cádiz and the other at Los Arcos Shopping Centre in Seville. These two stores have a total combined area of 23.000 sqm.

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The operation, which was closed for around 36.8 million euro, represents an added value for Los Arcos and Bahía Sur, which will improve and increase their commercial, food and leisure offer in 13% with approximately 23 new labels.

The project to improve the new units, which will be carried out on both shopping centres, reinforces Castellana Properties’ strategic goal to improve its assets, thus offering an added value thanks to the active management of its portfolio.

Currently the company specialised in acquiring, managing and refurbishing real estate assets in the retail segment – which is listed at the Mercado Alternativo Bursátil – has 17 assets in its portfolio among shopping centres, commercial parks and offices which have a combined GLA of 317.106 sqm.

Alfonso Brunet, Castellana Properties’ CEO, comments that «in line with our firm bet on growing organically, we acquired these two strategic assets which allow us to increase and improve our clients’ commercial mix. Our goal is to offer them an added value, and we work so that our shopping centres are more than just a place for shopping».

 

Press Released by Castellana Properties