US private equity firm Lone Star is reportedly looking for a buyer for the Rivas Futura retail park in Rivas Vaciamadrid, near Madrid.

US private equity firm Lone Star is reportedly looking for a buyer for the Rivas Futura retail park in Rivas Vaciamadrid, near Madrid.

According to Spanish press reports, the 40,000 m2 retail park is expected to trade for a price of around €70 mln.

Opened in May 2006, the asset was bought by AXA Real Estate's ERIV II fund from owner Avantis for a price of €81 mln. Later on, the asset was repossessed by its creditor, Eurohypo and included in Commerzbank's massive Spanish portfolio loan sale to Lone Star and JP Morgan in 2014.

The asset is currently 80% occupied with tenants including retailers Toysrus, Leroy Merlin, Media Markt, Decathlon, Kiab and Prenatal.

Knight Frank is believed to be advising on the deal.