Alcora Plaza comprises 16,400 sqm of recently renovated space divided into fourteen units and includes a food court, leisure area, and indoor and outdoor parking. The retail complex is currently 95 % occupied with an average weighted lease term of approximately five years.
“This investment is in line with our strategy of targeting forward-looking assets in major European cities, including Madrid”, says Antoine Barbier, director of AEW Patrimoine. “Research by our research and strategy team shows that prime retail will offer attractive returns over the next five years, and this transaction represents an opportunity to acquire a modern retail complex in a very good location with a strong income profile.”
AEW was advised in this transaction by Baker McKenzie while sellers were advised by Cushman & Wakefield with the participation of Spanish lawyer Javier Angoso.
Baker McKenzie’s team was led by partner and head of the Real Estate practice Guillermo Rodrigo, associate Marta González Iniesta and junior associate Camila Delgado.
