The Spanish office of Dutch property group Redevco has purchased a portfolio consisting of 24 retail units and commercial buildings from UK bank Barclays for a total of EUR 65mln. The properties are located in prime high-street locations in nine Spanish cities including Madrid, Barcelona, Seville, Málaga, Vigo and Alicante. The units will be leased back to Barclays on a long-term basis.
The Spanish office of Dutch property group Redevco has purchased a portfolio consisting of 24 retail units and commercial buildings from UK bank Barclays for a total of EUR 65mln. The properties are located in prime high-street locations in nine Spanish cities including Madrid, Barcelona, Seville, Málaga, Vigo and Alicante. The units will be leased back to Barclays on a long-term basis.
Redevco Spain said the deal reflects its target of enhancing its prime retail portfolio and its international tenant base. The transaction brings Redevco's total Iberian portfolio to around EUR 750mln.
Javier Hortelano, managing director of Redevco Spain & Portugal, said: 'We are very pleased to have concluded this deal. It allows us to reinforce our high-street portfolio with prime locations, including Tetuán in Seville, Larios in Málaga, Urzaiz in Vigo, Maisonnave in Alicante and Gran Vía in Bilbao. It also marks the start of a commercial relationship with Barclays, being one of the most prestigious banks in Spain.'
Jones Lang LaSalle acted for Redevco on this deal.
