US EditionCastellana Sells Pinatar Park and Eight Other Retail Parks to Ares for €279 Million
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Castellana Sells Pinatar Park and Eight Other Retail Parks to Ares for €279 Million
Investment firm Ares Management Corporation has purchased the Pinatar Park shopping centre in San Pedro del Pinatar from Castellana Properties, taking over as owner and manager. This sale is part of Castellana Properties’ full divestment of its retail park portfolio in Spain to SPV 2025, a company owned by Ares, for a total of €279 million. The deal is expected to be completed on 1 April. The portfolio includes nine retail parks with a combined …
Ares acquires retail parks from Castellana for €279M: advisors
Ares Real Estate funds have acquired, through a share deal, nine retail parks from Castellana Properties Socimi for €279 million. The portfolio comprises a total gross lettable area (GLA) of 174,305 square metres. Linklaters advised the buyer on the legal aspects of the transaction, alongside EY as financial adviser and Deloitte as tax adviser. Ashurst acted for Castellana Properties. The portfolio includes Parque Principado (Asturias), Granaita…
The regional complexes included in the transaction, which involves nine assets in Spain, are Granaita, Motril Retail Park and Marismas del Polvorín Castellana Properties will invest another 25 million in the renovation of the Los Arcos shopping center in S
The socimi transfers this and other commercial parks to Ares Management for almost 280 million euros Abades prepares an investment of five million euros in the Nevada Palace
The US fund rotates its investments in the retail sector: after selling Parque Corredor and driving the exit of the San Miguel Market, acquires a portfolio to the socimi Castellana
Castellana sells for 279 million its portfolio of commercial parks in Spain to Ares and, after this injection, prepares to close new purchases in the Iberian peninsula. Read
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