Swiss bank UBS has bought the Metromar shopping centre near the Southern Spanish city of Seville for about EUR 100 mln. The mall was purchased by UBS from the Spanish developer Novaindes on behalf of the UBS Lux Real Estate fund. This is the first acquisition of a Spanish shopping centre by the Swiss investor. The mall was inaugurated in November 2006 and provides some 23,335 m[sup]2[/sup] of space on three storeys.
Swiss bank UBS has bought the Metromar shopping centre near the Southern Spanish city of Seville for about EUR 100 mln. The mall was purchased by UBS from the Spanish developer Novaindes on behalf of the UBS Lux Real Estate fund. This is the first acquisition of a Spanish shopping centre by the Swiss investor. The mall was inaugurated in November 2006 and provides some 23,335 m2 of space on three storeys.
UBS was advised by the real estate consultants Uría & Menéndez, Symonds Gabitat, Grupo Beer, Aguirre Newman and DTZ. UBS Lux Real Estate is an open-ended fund which aims to provide institutional investors with consistent returns through exposure to office, retail and industrial/logistics properties in the Eurozone.
