Retail and leisure expected to lead Spanish investment market volume in 2010

Retail investment market transaction rumours in Spain

i-comparables.com is monitoring rumours of three significant retail leisure deals in the Spanish investment market all expected to complete within the next three to four months.

The transactions involve Ballonte (Portugalete, Basque Country), Centro Commercial Sant Cugat (Cataluña) and Puerto Venecia (Zaragoza). Sources indicate that Ballonte is at an advanced stage of due diligence with a German fund which has not been very active in the Spanish market recently. Sant Cugat is under competetive due diligence with four buyers and is expected to complete early in the new year. The net initial yield is likely to be sub 6.5%. Finally, rumour has it that part of Puerto Vanecia, a very large scheme on which construction recently finished, has a serious offer from an international investment group and a sale could be agreed shortly.

Earlier i-comparables.com research reveals that the Spanish retail investment sector outperformed all other Spanish investment sectors in 2009 with a volume close to €2.5bn, well above the office sector at a volume close to €1.3m. The high retail volumes were achieved as a result of a significant number of bank branch sale and leaseback transactions as well as shopping centre transactions. Spanish retail investment performance is expected to lead the market again this year when final figures for 2010 are published.
For more information on real estate investment transactions and transaction rumours in the Spanish commercial investment market contact | i-comparables.com

19 Responses to “Retail and leisure expected to lead Spanish investment market volume in 2010”

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