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Thursday, February 22, 2024

CMS Spain advises SIM on Bahía Real retail park €30.8m financing

CMS Albiñana & Suárez de Lezo has advised Savills Investment Management on the negotiation of the financing in the amount of €30.8 million and the corresponding package of guarantees

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The total amount of €30,800,000 (pledges and mortgage), granted by MÜNCHENER HYPOTHEKENBANK eG to ECF SANTANDER RETAIL, S.L.U. was negotiated in order to finance the acquisition of the recently built Bahía Real retail park in the Santander area.

Savills Investment Management acquired for one of its funds the Bahía Real retail park in Santander, for which it has paid Citygrove and Burlington around €60 million.

The facilities, which opened in December 2020, have a surface area of around 20,000 m2 and are leased to 23 tenants, including well-known operators such as the supermarket chain Mercadona, the pet products brand Tiendanimal, the sporting goods company Sports Direct, and the furniture and decoration firms Maisons du Monde and Jysk. Its leisure offer includes a Basic Fit gym, Ocine multiplex cinemas, and a selection of restaurants.

CMS Spain’s team acting in the financing was led by partner Javier Colino and counted on Financial Markets & Services senior associate Marta González, and associate Víctor Sanjuán.

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