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Deka closes sale of 11 retail spaces for €105M
14 October 2019 | Vanessa Sousa

Eleven of the retail spaces German management company Deka Inmobilien had acquired from group Inditex in January 2018 were sold last week for 105 million euro to several local investors.

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The news was reported by Spanish newspaper Eje Prime, which further informed that the stores which were sold are located in Albacete, Palma de Mallorca, Seville, San Sebastian, Ciudad Real, Zamora, Cordoba and Fuengirola. One of the shops located in Lisbon – the address was not disclosed – is also part of this set.

These assets were part of the portfolio Deka acquired from group Inditex for a total 400 million euro. The portfolio has a total 16 assets: 14 located in Spain and two in the Portuguese capital, Lisbon – one located at Rua Augusta and the other at Rua António Augusto Aguiar.

The portfolio also includes even more valuable assets. These assets are only 5, but together are estimated at 300 million euro and they are: a set of shops located in prime areas of the main Spanish cities, such as Calle Preciados and Calle Carretas in Madrid; Calle Pelayo in Barcelona; Calle Colón in Valencia and one of the shops located in Lisbon.

For the future, the German management company – which currently has a. 4.000 million euro investment capacity – has its eyes set on another rising segment: logistics. The company should be looking for new investment opportunities within this segment, in particular buildings with areas between 50.000 sqm and 60.000 sqm.