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Marathon purchase 2 shopping centers in Spain to Pradera

The US Marathon Asset Management is negotiating the purchase of 8 European shopping centers to Pradera, two of which are in Spain, namely La Marina in Benidorm, and Lobregat in Barcelona.

La Marina covers a retail surface area of 35.599 m2 and its occupancy level stands at around 94%.  The Llobregat center is smaller, with a GLA of 14.160 m2, and its occupancy rate amounts to around 66%. The value of the two Spanish establishments amounts to around €98 million. 

One of the star shareholders of Vía Célere, and Värde, Marathon already owns one shopping center in Spain, the Bahía Azul in Málaga bought last year for €18.5 million, said the Spanish Real Estate.

These centers constituting the portfolio, along with 6 others Italian centers, were acquired by the Pradera European Retail Fund between 2006 and 2009 and their current market value amounts to €326 million.