CBRE Global Investors verwerft Ribera del Xúquer in Carcaixent, Spanje
(origineel Engelstalig persbericht)
CBRE Global Investors has completed the acquisition of the Ribera del Xúquer shopping centre in Carcaixent, Spain on behalf of a European retail strategy.
The centre opened in September 2005 and comprises of circa 34,119 sqm of GLA (including 12,958 sqm of Eroski hypermarket which is not part of the transaction) and consists of 76 retail units and 1,900 parking spaces.
Ribera del Xúquer is an established city centre scheme and has an occupancy rate of 95%. It is arranged over two floors and has an attractive line-up of international fashion retailers including Zara, Massimo Dutti, H&M and C&A.
Carcaixent is located in the province of Valencia, 40 km south of its capital. The province includes another 265 municipalities and is home to 2.6 million people. The shopping centre is located in the North urban end of Carcaixent, bordering with Alzira, the capital of the Ribera del Xúquer region. Ribera del Xúquer is a dominant scheme within its catchment area which has retail spending per capita in line with the Spanish average.
Florencio Beccar, Fund Manager, CBRE Global Investors commented:
“We have acquired a well let dominant shopping centre with solid property fundamentals.
It is the first shopping centre that we have bought in the Spanish market for this particular vehicle. We believe we are entering the market at a time where we can realise both income and capital growth for our investors.
This asset already has a solid track record of good performance with sales and visitors remaining resilient through the crisis. As we put our asset management initiatives in place, we will further improve the retail offer and tenant mix. We believe this shopping centre will be a very strong performer.”
Jose Antonio Martin Borregon, Managing Director Spain and Portugal, CBRE Global Investors commented:
“The acquisition of Ribera del Xúquer underscores CBRE Global Investors’ strong track record of investing in shopping centres in the Iberian Peninsula”.
CBRE Global Investors was advised by CMS Albiñana & Suárez de Lezo .
CBRE Global Investors is the leading retail investment manager in EMEA with €14.8 billion of non-listed retail assets under management, 736 retail assets (of which 85 are shopping centres) across 15 countries and over 6,800 retail tenants.
In Spain and Portugal, CBRE Global Investors has approximately € 2 billion of assets under management. The portfolio consists of 20 shopping centres comprising more than 1.3 million sq m.
