ING Real Estate Development is in talks with a number of potential investors to sell its Spanish shopping centre management unit, called Auxideico Gestión, according to well-informed sources.
ING Real Estate Development is in talks with a number of potential investors to sell its Spanish shopping centre management unit, called Auxideico Gestión, according to well-informed sources.
The Dutch property company has mandated ING Corporate Finance to sell Auxideico, which is based in Madrid and employs a staff of 76. The firm manages a portfolio consisting of 14 shopping centres part of ING Real Estate as well as two malls which it manages for Invesco Real Estate in San Sebastian (named Brexta) and in Madrid (Montecarmelo).
Other major centres under management include the Gran Via shopping centre in Vigo, the Salera shopping centre in Castellon and the Alcala de Henares mall in the Spanish capital.
Sources say that a number of established retail asset managers could be interested in acquiring the unit. It could also be attractive to retail players looking to gain a foothold in the management of shopping centres in Spain. Potential buyers are said to be DTZ, CB Richard Ellis, Sonae Sierra, Neinver and Aguirre Newman.
