• The gross lettable area acquired, owned by Activ-Group, amounts to 2,624 m² and is 100% occupied

• With this acquisition, Castellana Properties increases the total gross lettable area of its assets to 343,147 m²

Castellana Properties, specialist in the acquisition, management and rehabilitation of retail real estate assets and listed in the Alternative Equity Market (MAB), has acquired a gross lettable area of 2,624 m² owned by Activ-Group in Pinatar Park which includes three units and is 100% occupied. This retail park, of which Castellana Properties already owned 10,637 m², was inaugurated in December 2016 and is strategically located on the N-232 southwest of San Pedro del Pinatar, Murcia.

The deal, which has been signed for €3.59M without transaction costs, expands the total gross lettable area of Castellana Properties' assets to 343,147 m², after the acquisition of El Corte Inglés' assets in Los Arcos and Bahía Sur shopping malls last May.

The three commercial premises acquired, whose tenants are TEDI, MAX COLCHÓN and OKSÍ MULTIHOGAR, will continue to operate normally and will complete the commercial mix of Pinatar Park along with other 9 brands already in the retail park such as Burger King, Aki or Kiwoko.

This new acquisition reinforces Castellana Properties' strategic objective of continuous improvement of its assets, thus offering added value through the active management of its portfolio. Castellana Properties currently has 17 assets in its portfolio, including shopping malls, retail parks and offices, after the merger, integration and renovation of the Granaita retail park, whose investment amounted to €5.5M.

Alfonso Brunet, CEO of Castellana Properties, states that "with this new acquisition in Pinatar Park we demonstrate again the company's firm commitment to commercial real estate and to continue growing organically and improving our assets in order to offer quality facilities to our clients. We want to provide them with added value, which is why we work to ensure that our shopping malls are not just a shopping area".