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M&G buys retail space for €49.9M
26 July 2019 | Vanessa Sousa

British asset management company M&G Real Estate purchased one more retail space for its portfolio for which it paid around 49.9 million euro to Spanish REIT Millenium Hotels.

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The asset is located at number 4 Gran Vía in the city of Bilbao and it has 2.505 sqm according to the latest report on this segment, from consultant Knight Frank.

This operation was closed during this year’s second quarter and it’s the third operation carried out by the British company in Spain in 2019 alone. In February it acquired the Alexandre Herculano office building in Andalusia for 46.5 million euro. And in June it closed the purchase of a warehouse in Madrid for 32 million euro from Ivesco. In these three operations, M&G Real Estate spent a total of 128.4 million euro.