• This deal forms part of the Socimi’s strategy to both become a pure retail player by selling non-strategic assets, ¬and to continue investing in its core properties.
• The properties – located in Alcobendas (Madrid) and Bollulos de la Mitación (Seville) – have a total GLA of 21,357 sqm, and also feature 222 and 174 parking spaces respectively.
Madrid, 21st June 2021. Castellana Properties, the specialist retail property acquisition, management and refurbishment firm listed on the BME Growth Market, has sold its two office properties located in Madrid and Seville to a European fund.
The deal – signed for €26.5 million – forms part of the company’s strategy to both become a pure retail player by selling its non-strategic assets, and to continue investing in its core properties.
The properties – located in Alcobendas (Madrid) and Bollulos de la Mitación (Seville) – have a total GLA of 21,357 sqm. Castellana Properties owned 16,744 sqm and 316 parking spaces.
Both office properties, which have formed part of the Castellana Properties portfolio ever since the company was first founded, are occupied in their entirety by Konecta – one of Spain’s leading end-to-end customer experience solutions providers.
According to Alfonso Brunet, CEO of Castellana Properties “the sale of these properties well and truly positions us as a pure retail player. This agreement further highlights our confidence in the sector and gives us both greater scope to invest in projects that will continue to improve our returns and the quality of our shopping centres and retail parks and greater capacity to look into new business opportunities”.