Spanish real estate Llanera group has acquired Reva, a Belgium utility and real estate company active in Valencia in Southern Spain. The acquisition will provide Llanera with a 45,000 m[sup]2[/sup] industrial area and 9 million m[sup]2[/sup] of agricultural land, the website Cincodias reported. Llanera said that the assets are valued around EUR 300 mln according to an estimate by the international property advisor CB Richard Ellis.
Spanish real estate Llanera group has acquired Reva, a Belgium utility and real estate company active in Valencia in Southern Spain. The acquisition will provide Llanera with a 45,000 m2 industrial area and 9 million m2 of agricultural land, the website Cincodias reported. Llanera said that the assets are valued around EUR 300 mln according to an estimate by the international property advisor CB Richard Ellis.
The plot acquired by Llanera is located in Torrent, Aldaia and Chiva, three towns near Valencia. Reva is a Belgium company which moved to Spain in the 1920s. It currently accounts for the largest production of citrus fruits in the Valencia region.
