Spanish REIT Lar España has announced the acquisition of the Vistahermosa retail complex in Alicante for €42.5 mln.
The Vistahermosa scheme provides 33,550 m2 of gross lettable area with tenants including supermarket group Alcampo, Leroy Merlin and Media Markt.
The asset benefits from a catchment area of almost half a million inhabitants with annual visitors expected to reach six million this year.
Following this acquisition, the value of Lar's 25-property strong portfolio amounts to over €1 bn, the company said in a statement. The vast majority consists of retail schemes.
