The MCore Group fund, who owns Proudreed Spain, together with BPN Capital Partes, has closed the purchase of the Quadernillos retail park in Alcalá de Henares, owned since 2013 by an English family office and a Qatari investor, according to a statement issued by the company. The amount of the transaction has not been disclosed.
Quadernillos has a retail and leisure park with a total leasable area of 30,000 square metres. Its tenants include supermarket, retail, home furnishings, DIY, leisure and restaurant operators, including brands such as Family Cash, Brico Depot, Ozone, Burger King, Foster’s Hollywood, Ginos and The Fitzgerald. However, the 9,000 square metre cinema operated by Ocine is not part of the transaction.
The retail park has a current occupancy rate of 94%, with an annual footfall of around five million visitors. The asset management company Amalthea Retail has acted as asset manager.
MCore Group owns around €5 billion of real estate assets in the UK, France, Poland, Germany and now Spain. With a multi-generational outlook and philosophy, the group is committed to generating stable and growing income over the long term through effective collaboration with its investment partners, tenants and team. Proudreed Holding in France is one of the key components of the MCore Group, which owns and manages around EUR 2.6 billion in assets across the country.
BPN Capital Partners was founded in 2022 by Stephen Newman, Simon Blaxland and James Preston as a real estate investment platform for their respective family offices. The partners have a track record spanning thirty to forty years across a variety of sectors and cycles in Spain and Portugal.
Pérez-Llorca advised the buyers, Proudreed and BPN, with a Corporate team made up of partner Javier Muñoz, counsel Raquel Blanco, and lawyers Carlos Gabaldón and Isabella Dallmau.
Eversheds Sutherland Spain advised the sellers with a team led by partner Rafael Arraez Amselem, assisted by legal director Ignacio Fraile Medina, senior lawyer Verónica Hinojosa and lawyer Andrea Calavia Mendiola.