Under its target are assets located in the main Spanish cities, such as Madrid and Barcelona. According to Esteban de Lope, general manager at the German company, it is in these locations «that there is greater liquidity and where we can find large volume operations», but he does not rule out the possibility of investing in other locations if there are interesting opportunities.
In fact, this quick recession may be the quick start for «a correction within the real estate market», believes the general manager in an interview to daily newspaper Eje Prime, remarking that at the end of 2019 the market was «overheated».
This route, announced last week, seems to be a strategic change for the German company in Spain since during last year it carried out a process of divestment with which it received a total 145 million euro. Deka Immobilien sold 11 retail spaces for 105 million euro, the Ballonti shopping centre in July for 110 million euro and also 3 high street units for 30 million euro. On the other hand, its only investment in the Iberian Peninsula took place in Lisbon: the purchase of office building Fontes Pereira de Melo for 125 million euro.
