This value has been indicated by several market sources as the sale price set out by the three societies which control the centre, assuming an initial profitability of about 4%; which, if it came to be, would be a record amount for the Spanish market and an example of the intense interest that investors have in this kind of asset.
If this business deal is successful, it will surpass the 450 million euros paid just a few months ago by the Deutsche Bank for the purchase of the Diagonal Mar shopping centre in Barcelona, considered until now to be the biggest investment deal in shopping centres in the Spanish market.
Inaugurated in May, 2003, the Xanadú shopping centre is held by the Canadian group Ivanhoe Cambridge, the real estate arm of one of the largest institutional funds in Canada, the Caisse de Dépôt et placement du Québec. The present owner acquired it in 2006 from Mills Corporation, as part of a portfolio which included two other centres in Canada and in Scotland, for a global value of 770 million euros.
TH Real Estate, together with the TPG Real Estate and Partners Group, have announced the creation of the Southern European Value-Add Mandate (SEVA), a new investment vehicle focused on the retai...
The positive dynamic in the sector will continue through 2017, say Cushman & Wakefield
A quarter of El Corte Inglés’ large commercial centres are showing structural losses, but the company is resisting closures to safeguard the corporate image.
Sonae RP announced last Tuesday the conclusion of a sale & leaseback operation with 4 food retail assets in Portugal, in a total volume of €34.7 million.
CBRE announced the release of Retail Intelligence in Spain. This strategic initiative will allow the company to combine the work of the experts in research, digital, innovation, data analytics o...
The US Blackstone plans to sell at least four retail centers it owns in Portugal, refers Bloomberg. The properties may be worth almost €900 million.