Ares Management and Redevco JV relaunches the Mercado de San Miguel market in Madrid

Ares Management and Redevco JV relaunches the Mercado de San Miguel market in Madrid

 

Since acquiring Mercado de San Miguel last year, the joint venture has improved its profitability through active management and has added value to the asset by attracting new culinary proposals like Rocambolesc by Jordi Roca, pastry chef with three Michelin stars;  Paella by Rodrigo de la Calle, chef with a Michelin star, icon of the green revolution and creator of the concept of gastrobotany; Kirei by Ricardo Sanz, the four Michelin stars’ chef of Kirei by Kabuki and Tacos, Margaritas y Punto, by Roberto Ruíz, Punto MX’s chef with one Michelin star.

Mercado de San Miguel is one of the most visited places in the Spanish capital, with 88 million visits per year. The building, which is protected because of its historic value, was built at the beginning of the XXth century in wrought iron and glass. Its 1.764 square metres are divided in 30 food and delicatessen stalls and 13 restaurants. Thanks to its great turnout and for being a part of Madrid’s tourist circuit, the market has a long waiting list for new tenants and has an occupation of 100%.

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