The Information .com / Intu British Properties real estate group has reached an agreement with the background Orion European Real Estate to acquire 451 million Puerto Venecia complex in Zaragoza, the largest shopping center in Spain.
The acquisition of Puerto Venecia mall by British Intu is added to the purchase made by this property group last year the commercial bali Principality Park, located in Oviedo.
Puerto Venecia has a business park 82,600 square meters which opened in 2008 and a leisure and fashion of 130,000 square meters which opened in October 2012.
The bottom of Orion European Real Estate III held 50% of the shopping complex since its construction and commissioning up in 2008 and last year bought British Land the remaining 50% for 144.5 million euros
Rental income from Puerto Venecia shopping center, which houses shops El Corte Ingles, H & Dev. M or Apple, are estimated at 22.4 million euros, according Intu Properties, which calculates a net initial yield of 5%.
“The transaction significantly accelerates our activities in Spain, a country where we see great opportunities for the kind of regional destinations where the company has specialized “said David Fischel, CEO of Intu.
In this sense, Finchel Puerto Venecia stressed that offers an attractive combination of shopping, restaurants and leisure, stressing that the complex recorded a strong growth in retail sales and provides “excellent staff” for the development of other sites, “as in Malaga”, where the British company expects to make significant progress in 2015.
Information The Information .com
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