Commerz Real sold the fully leased “Espai Girones” shopping centre from its hausInvest open-ended real estate fund portfolio to Lighthouse Properties for around EUR 168.2 million. This is just under a quarter of the 2005 purchase price of around 127.8 million euros.
News ReleasesShopping centre Espai Girones sold in Spain
Time to read4 min.
updated at10/10/2024
CategoryNews Releases
The property was market-ready and we took advantage of the increased demand for shopping centres to achieve a good result for our investors.
Mario Schüttauf
hausInvest fund manager since 2007
Commerz Real cites the structural connection to the adjoining specialist market centre as the basis for increasing visitor numbers and thus more rentals as reasons for the increase in value. As a result, Primark and the Auchan subsidiary Alcampo succeeded in winning two large anchor tenants for the centre with 105 shops and 40,000 square metres of rental space located in Girona halfway between Barcelona and Perpignan. Meanwhile, visitor and sales figures as well as area productivity are also back at or above the pre-coronavirus level.
Ambas Real Estate advised Commerz Real as part of the structured sales process.
About Commerz Real
Under the umbrella of Commerz Real AG, Commerzbank consolidates its asset management subsidiaries on a single platform: the investment managers Commerz Real, Yellowfin Asset Management, and Aquila Capital, as well as the financing boutique Commerz Leasing. Approximately {{}} employees at international locations manage assets totaling more than 55 billion billion euros. The platform offers retail investors, corporate clients, and professional and semi-professional investors access to liquid investments, real assets, and financing solutions—ranging from thematic and multi-asset strategies to customized mandates. Through its distribution company, Commerz Real Capital, it also provides access to Commerzbank Asset Management’s solutions.
Media contact
Commerz Real and real estate
Gerd Johannsen
+49 151 11761717gerd.johannsen@commerzreal.com