Dutch privately held investor Redevco has acquired a retail unit in the Salamanca district of Madrid for around EUR 27 mln. Located at Goya street, the property offers around 2,300 m[sup]2[/sup] of retail space and is leased to fashion retailer Zara with a long-term rental agreement.

Dutch privately held investor Redevco has acquired a retail unit in the Salamanca district of Madrid for around EUR 27 mln. Located at Goya street, the property offers around 2,300 m2 of retail space and is leased to fashion retailer Zara with a long-term rental agreement.

Javier Hortelano, managing director of Redevco for Spain, Portugal and Italy said that the acquisition was 'in line with the company's strategy to have a portfolio of prime commercial properties in the main Spanish cities'.

He added that Redevco is 'open to new investment opportunities despite the adverse economic conditions.'

Last year Redevco, part of Cofra Holding, also bought a Spanish portfolio of 24 retail units and commercial buildings from Barclays for a total of EUR 65 mln. The properties are located in prime retail high streets in nine Spanish cities including Madrid, Barcelona, Seville, Málaga, Vigo and Alicante.

The company has a EUR 750 mln portfolio in the Iberian peninsula.