CBRE Global Investors verwerft dominant shopping centre in Spanje

(integraal Engelstalig persbericht)

CBRE Global Investors has completed the acquisition of Airesur Shopping Centre in Seville, Spain. The dominant well-performing shopping centre has been purchased for € 76.5 million. The asset has been acquired on behalf of one of its separate account clients.

The 20,183 sqm shopping centre is well located in the west of Seville adjacent to the only IKEA store in the city. The centre opened in 2004 and contains a strong tenant mix with 87 retail units, including mid-sized units like Mercadona supermarket, different Inditex brands and H&M.

Jose Borregon, Managing Director Spain and Portugal, CBRE Global Investors, said :

“We believe Airesur is an excellent acquisition for our client as well as being a perfect fit for our portfolio rotation process. There are a number of asset management opportunities to modernise the centre and we will be working closely with the local authorities and tenants to improve the customers shopping experience. We will also be appointing a new property manager, Cushman & Wakefield to help us achieve this.

With this acquisition, I am very pleased to confirm that we are one of the most active operators in the market, with more than € 350 million of investments executed within the last six months and we aim to keep investing and implementing our portfolio rotation strategy”.

Jeroen de Grunt, Portfolio Director Separate Accounts Continental Europe, CBRE Global Investors, said:

“Our client is actively acquiring well-performing shopping centres across Continental Europe. Airesur shows an attractive and balance tenant mix and shows a clear upside potential. Besides Spain we are looking to acquire shopping centres of equal quality in Belgium, Germany, France, Poland and the Czech Republic over the next twelve months, in order to further enlarge our client’s retail portfolio.

This purchase also shows that there are interesting and well-performing shopping centre investment opportunities in the Iberian Peninsula, an area that has seen increased attention from the investment market over the last eighteen months.”

Present in Spain since 1996, CBRE Global Investors has approximately € 2,000 million of assets under management in the Iberian Peninsula. The portfolio consists of 20 shopping centres comprising more than 1,3 million m2 and more than 152 million people visited them last year.