Spanish real estate investment trust Castellana Properties has acquired the Bonaire open air shopping centre from Unibail-Rodamco-Westfield (URW) for €305m.
The deal gives Castellana ownership of 55,800sqm of the 78,000sqm property’s gross lettable area (GLA). Alcampo hypermarket owns and occupies the remaining GLA Bonaire, the largest shopping centre in the Valencia area.
URW said it has now completed or secured €900m in 2025 transactions, with the Bonaire deal contributing to a corresponding reduction in the group’s proportionate net debt.
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