Deka Immobilien has acquired the Ballonti shopping centre with hypermarket and petrol filling station, in greater Bilbao, northern Spain in a transaction worth over EUR 116 mln. The mall was acquired from Spanish retail chain Eroski.
Deka Immobilien has acquired the Ballonti shopping centre with hypermarket and petrol filling station, in greater Bilbao, northern Spain in a transaction worth over EUR 116 mln. The mall was acquired from Spanish retail chain Eroski.
Opened in April 2008, the shopping centre has a total leaseable floor area of around 53,000 m2 and is almost fully let. The centre is anchored by the Spanish hypermarket operators Eroski, Irish textile retail chain Primark and clothing company C&A and has a catchment area of over 600,000 inhabitants.
The property will be included in the WestInvest InterSelect open-ended mutual property fund. REIM Partners and CB Richard Ellis provided buy side consultancy support.
The DekaBank Group is the largest provider of open-ended property funds in Germany. The two capital investment companies, Deka Immobilien Investment and WestInvest Gesellschaft für Investmentfonds, together manage fund assets of over EUR 21 bn. As a sister company, Deka Immobilien is responsible for the acquisition and disposal of properties, management of these assets and all other property services as well as for product development.
