Netherlands-based retail property investor VastNed Retail has finalised its acquisition of the new extension of the Getafe III shopping centre in Madrid. The extension, which is located next to a well-established shopping centre to the south of Madrid, comprises 20,000 m[sup]2[/sup] of retail space leased to national and international retailers including Zara, Massimo Dutti, C&A and Hennes & Mauritz. The investment, which has been financed with a loan, amounts to EUR 56.6 mln. The transaction generates a 5.9% net initial yield.
Netherlands-based retail property investor VastNed Retail has finalised its acquisition of the new extension of the Getafe III shopping centre in Madrid. The extension, which is located next to a well-established shopping centre to the south of Madrid, comprises 20,000 m2 of retail space leased to national and international retailers including Zara, Massimo Dutti, C&A and Hennes & Mauritz. The investment, which has been financed with a loan, amounts to EUR 56.6 mln. The transaction generates a 5.9% net initial yield.
'This acquisition boosts the size of our Spanish (retail) portfolio and is fully earnings per share-enhancing in 2007,' commented Hans Pars, chief investment officer of VastNed Retail.
