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Sale of shopping centre Espacio Torrelodones is suspended
07 April 2020 |

One more sale of a shopping centre was paralysed due to the new coronavirus crisis: that of shopping centre Espacio Torredolones, by fund ASG Iberia.

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The fund had placed the 33.000 sqm shopping centre located North of Madrid on the market in February, after having invested around 5 million euro in refurbishing it, according to idealista/news this Monday. The amount for which the fund is expecting to sell the shopping centre was not disclosed, but it is known that its management is currently under Cushman&Wakefield.

This asset, which was acquired by ASG Iberia in 2016, incorporating a portfolio which also included Sexta Avenida, located in Madrid, and Ruta de la Plata, in Caceres, was bought for around 61 million euro from Klepiere.

This is one more operation which is on standby in Spain, as the sale of Espacio León, by Blackstone, Parc Central in Tarragona by CBRE Global Investors, or 50% of Intu Puerto Venecia, by British intu.