Both parks, Mirasierra Gallery Puerta de Algete, are located in the community of Madrid and are 100% leased.
On this deal, Jörg Tiggemann, CEO of Ten Brinke Spain & Portugal, commented: “This transaction with abrdn shows the attractiveness of the Spanish market for international investors and is recognition of the success of our retail business model, and lays the foundation for further growth in Spain and Portugal, together with major international operators who trust in our strength and experience.”
This transaction brings abrdn’s portfolio in Iberia to an estimated value of around €960 million, with 32 assets in various sectors.
Pilar Valencia, head of Asset Management and Transactions, Spain and Portugal at abrdn, stated: “This acquisition offers great added value and resilience to our portfolio and allows us to consolidate our presence further and continue to grow in the Iberian market. As with all our transactions, we have carried out a rigorous process of both financial and ESG analysis in order to continue to provide our investors with exciting investment opportunities.”
abrdn has received Legal advice from Perez-Llorca, Tax advice from KPMG, and technical and commercial advice from Savills.
KPMG Abogados advised abrdn on the Tax restructuring and the review of the Tax aspects of the legal documents of the transaction. The team involved in the transaction consisted of Clara Guasch, director of the Corporate Tax area, and Carles Linares, manager of the same area. KPMG also carried out the Tax analysis of the financing structure of the transaction from the transfer pricing perspective with the intervention of Elisenda Monforte and Rubén Moreno, partner and manager, respectively, of the Transfer Pricing area.