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UBS AM acquires retail gallery part of Las Rosas mall

11 August 17 - RE+D Magazine
UBS AM acquires retail gallery part of Las Rosas mall

COMPANIES

Solum Property Solutions

Consultant - GREECE

ETAD.A.E.

Public entity - GREECE

Savills

Consultant - GREECE

IBI Group

Consultant - GREECE

PEOPLE

Antulio Richetta

Director IBI Group
UBS Asset Management's Real Estate & Private Markets has acquired the retail gallery part of Las Rosas Shopping Centre in the San Blas district of Madrid, on behalf of a client for €57million from Hispania Retail Properties.

 

Overall, Las Rosas is the dominant shopping centre in its immediate catchment area, comprising 29,400 m² over two floors, according to Europe-re.com.

It includes 91 indoor retail units totalling almost 9,300 m² – which UBS-AM have acquired – as well as a Carrefour hypermarket, a Cinesa cinema and 1,800 underground parking spaces.

Currently 94% let, the centre is anchored by one of Spain’s top five performing Carrefour stores, with Mango, McDonald’s, Primor, RKS, Springfield, and Foster Hollywood among the property's other tenants.

The acquisition brings REPM’s assets under management across the Iberia business to circa €772million.

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