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Deka Inmobilien sells Ballonti shopping centre
29 July 2019 | Vanessa Sousa

The Ballonti shopping centre has new owners: Bilball Centre Investments and Ballon Investments. German asset management company Deka Inmobilien closed the sale of the asset last week for 110 million euro.

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This shopping centre located in Bilbao has a 52.600 sqm gross area which is mostly leased – according Eje Prime, the occupancy rate is around 92%. Amongst its tenants are supermarket chain Eroski, which occupies 13.000 sqm, and several clothing chains such as Primark and H&M.

Paul Santos, national retail director for CBRE Spain – the consultant company which advised the operation –, recognises that this is «a very relevant operation within the country’s shopping centre segment, since it is the largest purchasing operation of an institutional shopping centre so far this year and one of the few to be closed in Spain».

This type of operation is not in line with the German company’s current strategy, since that strategy includes investing around 500 million euro in Spain this year.

Last Update 16/10/2019