Recent Retail Successes (June 2017)
The first half of 2017 has been a busy time with a significant amount of investor interest and activity in the Iberian markets. We are pleased to have been able to advise on both the sale and acquisition of 4 important shopping centre and 3 major retail park transactions in Spain and Portugal with a value of over €700 million.
Continente Algarveshopping (January 2017)
Following on from the acquisition of Algarveshopping in early 2016 (alongside Luz del Tajo in Toledo, Spain and Estacao Viana in Viana do Castelo, Portugal), RPE has advised Iberia Coop on the acquisition of the Continente hypermarket in Algarveshopping from Sonae RP. This acquisition consolidates Iberia Coop’s ownership in the centre.
Albufeira Retail Park (February 2017)
RPE has advised Iberia Coop on the acquisition of Albufeira Retail Park from Northstar. Albufeira is one of the top retail parks in Portugal by performance and is located adjacent to Algarveshopping thereby consolidating the Funds ownership in this location.
RPE advises KKR & Neinver on the sale of Nassica, Madrid
Following the acquisition of the 50,000m2 centre in 2014 for KKR, RPE was retained as Strategic Asset Manager to assist in the formulation of the business plan for the centre and to ensure that the business plan was delivered. The business plan included an investment of over €8 million euros in the centre, refurbishment of the common areas, repositioning the image of the centre, a new marketing strategy releasing approximately 20% of the GLA and restructuring of the lease contracts. Over a two year period the centre grew in sales and visitor numbers by over 16% and was 100% leased.
Two years post purchase RPE undertook a selective and competitive marketing process and the centre was sold for over €140m to a fund managed by THRE in October 2016.
RPE advises CBRE GIP on the acquisition of 3 Shopping Centres in Iberia
RPE advised CBREGIP on the acquisition of 3 Shopping Centre’s in Spain and Portugal from Sonae’s Sierra Fund. The acquisition included Luz del Tajo in Toledo (Spain), Algarveshopping in Albufeira (Portugal) and Estacao Viana in Viana do Castelo (Portugal). The transaction is one of the largest retail transactions in Iberia in H1 2016 (June 2016).
RPE advises TH Real Estate on the acquisition of Meraville Retail Park in Bologna (Italy)
RPE sourced and advised TH Real Estate on the off market acquisition of Meraville Retail Park in Italy. Meraville is one of the strongest retail parks in Italy with a very strong retailer line up including Leroy Merlin, Coop, Mediaworld, Decathlon, Pitarello, OVS and Piazza Italia. The acquisition totalled just over 35,000m2 of GLA and is one of the most important retail transactions in the Italian market in 2016 (May 2016).
RPE advises Aberdeen on the acquisition of a portfolio of 4 supermarket assets from Sonae RP
RPE sourced and advised Aberdeen on the off market acquisition of 4 supermarket assets in Sintra, Palmela, Loule and Leca do Balio (Porto) on behalf of the Aberdeen Fund. The portfolio was acquired from Sonae RP and benefits from a long lease to Sonae’s Continente retail brand (April 2016).
RPE advises M&G Real Estate on the acquisition of the Douro portfolio from Sonae RP
RPE sourced and advised M&G Real Estate on the acquisition of 12 hypermarket and supermarket assets located in strategic locations across Portugal from Sonae RP for €164m. The transaction was the largest retail sale and leaseback to occur in the Portuguese market in recent years and the investment benefits from a long lease to Sonae’s Continente retail brand(March 2016).
RPE advises PREF on the sale of their Retail Park portfolio to Blackstone
Jointly with JLL, RPE advised PREF on the sale of the PREF retail park portfolio in Portugal to Blackstone and Multi. The portfolio comprised retail parks in Sintra, Aveiro, Santarem, Viana do Castelo and a site in Portimao.
RPE advises Immochan on the Sale of Alegro Setubal (Portugal)
RPE advised Immochan on their new joint venture with Alaska Permanent Fund Corporation (APFC) who were represented by CBRE Global Investors. The transaction involves the sale by Immochan of a 50% interest in the holding company that owns the shopping centre. Alegro Setúbal is a new development by Immochan which opened in 2015 and comprises a 44,450m² shopping centre anchored by a 16,560m2 Jumbo hypermarket. The centre is 100% leased to leading international fashion brands such as Mango, H&M, Zara, Bershka, Stradivarius, and Pull & Bear. The centre also has a strong leisure and entertainment component, food court and electronics offer from brands including Fnac, Sport Zone, Cinema City and Fitness Hut. (January 2015)
RPE advises KKR on the sale of Spanish Retail Park.
Acting on behalf of KKR, RPE advised on the sale of their 16,000m2 retail park located in Zamora, Castilla Leon. The retail park known as Vista Alegre comprises 16,000m2 and is anchored by El Corte Ingles, Aki, Kiabi Worten, Merkal and Sprinter.(August 2015)
RPE advises Credit Suisse on the Acquisition of Parque Comercial Rivas Futura, Madrid
Acting on behalf of Credit Suisse, RPE advised on the acquisition of Parque Comercial Rivas Futura. The total retail park comprises over 50,000m2 of GLA and is anchored by Media Markt, Toy R Us, El Corte Ingles, Conforama, Kiabi and Worten, and is adjacent to the largest Leroy Merlin and Decathlon stores in Spain. (July 2015)
RPE advise Rockspring on Retail Warehouse Portfolio
Acting on behalf of Rockspring, RPE ran the process for the sale of a portfolio of 4 prime Decathlon stores located in Madrid and Barcelona with a total GLA of 19,000m2, and the sale of Parque Comercial Tres Caminos,Cadiz anchored by Media Markt, Kiabi and Lidl and adjacent to Leroy Merlin. (July 2015).
RPE advise UBS on the acquisition of the Continente Hypermarket of Lisbons top shopping centre.
Acting on behalf of UBS Global Asset Management, RPE advised on the acquisition of the 25,000 sqm Continente Hypermarket in Colombo Shopping, for EUR 53.6 million. (June 2015)