UK investor Rockspring confirmed on Thursday that it has acquired the Tres Caminos retail park located in Puerto Real, Cádiz. The deal, which was reported by PropertyEU at the end of October, represents an investment of over EUR 20 mln. The company was advised by Savills. The seller was not disclosed.
UK investor Rockspring confirmed on Thursday that it has acquired the Tres Caminos retail park located in Puerto Real, Cádiz. The deal, which was reported by PropertyEU at the end of October, represents an investment of over EUR 20 mln. The company was advised by Savills. The seller was not disclosed.
The 9,250 m2 retail park is let to tenants including Media Markt, Lidl, Kiabi and Merkal.
'Rockspring has acquired the asset via a forward-funding structure which was agreed in 2006. This structure was commonly used in 2004-2006 due to the lack of product and high prices. Nowadays purchasers are focused on existing mature product with a proven track record, at opportunistic prices,' said Luis Espadas, head of retail investment at Savills Madrid.
