Pan-European commercial property and investment collective M Core, in partnership with BN Capital Partners, has acquired the Via Sabadell retail park in Sabadell near Barcelona, Spain.
The 100,000 m2 park, anchored by major retailers like Ikea and Leroy Merlin, is M Core’s third Spanish acquisition, after Parque Quadernillos (Alcalá de Henares) and Vista Alegre (Zamora).
M Core Spain has acquired 62% of the retail park, which represents 37,000 m2 leased to 20 operators, including Conforama, Media Markt, Wala, Pepco, and Planet Fitness. Financial details were not disclosed.
The park serves a catchment area of 750,000 people within a 10-minute drive and 1.6 million within a 30-minute radius. Public transport and easy access to the C-58 highway, rail links, and Sabadell Airport ensure strong connectivity to Barcelona and beyond.
Sebastian Macdonald-Hall, CIO (Europe) of M Core, commented: ‘The acquisition of Via Sabadell marks a key milestone in our plan to create a substantial investment portfolio across Spain and Portugal. As the portfolio expands in these territories, we plan to create a proprietary management platform for effective and cost-efficient management.’
Oliver Fraser-Looen, retained adviser to M Core on European Acquisitions, added: ‘The acquisition of Via Sabadell reflects M Core’s commitment to investing in high-potential value-add retail assets.’
Christophe Le Corre, from M Core Spain, said: ‘This acquisition strengthens our position in the Spanish market. This retail park is consistent with M Core’s strategy of investing in quality assets with the potential to create value in Spain. We are confident that the backlog in Spain will grow in the next 12-18 months.’
Cell Finanzas, Eversheds Sutherland, and Savills advised the buyer, while Cushman & Wakefield and Pérez Llorca advised the seller on the transaction.
