International investors on the background of the decline in the commercial real estate market in the United States turned its attention to other countries. In particular, they began to buy or purchase a majority stake in retail properties in Europe. One of the last of such transactions was the purchase of a shopping center Parque Corredor in Madrid.
Resource information across-magazine, global investor Redevco Iberian Ventures (manages the assets of Ares Management LP and Redevco) has acquired more than 70% of one of the largest shopping centers of the capital of Spain for EUR 140 million.
Shopping center Parque Corredor leasable area of more than 123,000 sq. m. annually attracts over 10.5 million visitors. Currently, the Mall is full of tenants of foods, including Alchemo hypermarket Hypermarket (Auchan Group) with an area of 24 000 sq. m. (one of the largest hypermarkets in Spain), leading fashion brands: Primark, Inditex Group, H & M, Mango, Kiabi and C & A and others.
According to bill Benjamin, partner of Ares Management, this investment adds another interesting asset of the company and reflects the development strategy in Europe by acquiring quality properties that require investment and repositioning to increase their value. "We plan to invest in the shopping center more than 40 million euros to completely renovate and expand existing stores to meet the requirements of tenants and buyers that is a key component of the strategy of increasing its cost," said Andrew Vaughan, CEO of Redevco.
The shift of investor interest in European commercial real estate market can serve as a positive signal for Ukraine.
According to the company UTG, in this year the interest of foreign investors in real estate projects in Ukraine increased significantly. "Despite the fact that most international funds still are sitting on the fence, increase the number of transactions for the acquisition of commercial property in Europe suggests that investors 'attention would soon be drawn on high-quality projects in Ukraine",- said the founder and President of UTG Vadim fidgets.
On materials: UTG
Resource information across-magazine, global investor Redevco Iberian Ventures (manages the assets of Ares Management LP and Redevco) has acquired more than 70% of one of the largest shopping centers of the capital of Spain for EUR 140 million.
Shopping center Parque Corredor leasable area of more than 123,000 sq. m. annually attracts over 10.5 million visitors. Currently, the Mall is full of tenants of foods, including Alchemo hypermarket Hypermarket (Auchan Group) with an area of 24 000 sq. m. (one of the largest hypermarkets in Spain), leading fashion brands: Primark, Inditex Group, H & M, Mango, Kiabi and C & A and others.
According to bill Benjamin, partner of Ares Management, this investment adds another interesting asset of the company and reflects the development strategy in Europe by acquiring quality properties that require investment and repositioning to increase their value. "We plan to invest in the shopping center more than 40 million euros to completely renovate and expand existing stores to meet the requirements of tenants and buyers that is a key component of the strategy of increasing its cost," said Andrew Vaughan, CEO of Redevco.
The shift of investor interest in European commercial real estate market can serve as a positive signal for Ukraine.
According to the company UTG, in this year the interest of foreign investors in real estate projects in Ukraine increased significantly. "Despite the fact that most international funds still are sitting on the fence, increase the number of transactions for the acquisition of commercial property in Europe suggests that investors 'attention would soon be drawn on high-quality projects in Ukraine",- said the founder and President of UTG Vadim fidgets.
On materials: UTG