This happens after reaching the record of €3,500M last year, 59.1% above the figures from 2015. Shopping center segment was the second most dynamic of the market this year, after offices, according to the Estudio de Mercado Centros Comerciales 2016/2017 publis
The investment in Spanish shopping centers in Q1 this year reached €1.000M, according to Aguirre Newman.
This happens after reaching the record of €3,500M last year, 59.1% above the figures from 2015. Shopping center segment was the second most dynamic of the market this year, after offices, according to the Estudio de Mercado Centros Comerciales 2016/2017 published by the consultant.
Institutional investment funds were the most active, with 52% of the total volume, followed by SOCIMIs, with more than 38%. The remaining activity was undertaken by real estate companies and private investors.
In total, there were 35 transactions, 7 of which involved portfolios. The main transaction involving a single asset took place in Barcelona, with Deutsche Bank’s purchase of the shopping and entertainment center Diagonal Mar, for just over €490 million. Also, the purchase of Metrovacesa by Merlin Properties had a significant impact on the shopping center segment, accounting 28% of the total amount.
In 2016 there was a slight containment of initial yield rates due to the positive macroeconomic environment and the perception of a potential return to an upswing in rents”, according to the consultant. In the case of Prime shopping centers, transactions closed in a punctual manner, below 4%, a record low for yields in this market.
AXA Insurance Companies has completed the acquisition of a 55% stake of Hilton Diagonal Mar Hotel, in Barcelona, to Iberdrola Inmobiliária, for €80M, via AXA Investment Managers &nda...
The Edifício España, in Madrid, will be renovated in the next few weeks, and will become a hotel and a shopping centre.
The Trajano socimi, managed by Deutsche Bank, has finalised what will be their biggest purchase since their creation in 2015. It is linked to the sale of the commercial centre Alcalá Magn...
CBRE GI puts shopping center Berceo up for sale, in Logroño, for €105 million.
Arcano's real estate subsidiary purchased recently a store to Redevco for €12 million, currently occupied by C&A in Madrid.
Ores Socimi, created by Bankinter and Sonae Sierra, invested another €36.5 million in Portugal, in the purchase of retail areas of Grupo Continente, in a total of 14,000m².