UBS retail deal sets record low yield

By A staff reporter 2007-06-15T00:00:00+01:00

UBS has paid EUR 100 mln for Metromar shopping centre in Seville, its first to date in Spain, Europroperty reported. The deal reflects a yield of 4.5% to 4.75%, a record low for the market. Net yields for prime shopping malls in Spain range between 4.75% and 5%.

UBS has paid EUR 100 mln for Metromar shopping centre in Seville, its first to date in Spain, Europroperty reported. The deal reflects a yield of 4.5% to 4.75%, a record low for the market. Net yields for prime shopping malls in Spain range between 4.75% and 5%.

UBS bought the shopping centre for its Euro Core fund from local developer Multiocio Aljarafe, a subsidiary of developer Novaindes. The mall has a surface area of 25,000 m².