Shopping center Splau in Barcelona.
Opened in May 2010, the shopping center features 148 shops, a cinema and 2,800 parking spaces. It attracted 7.5 million visits in its first year of opening and is expected to attract 9 to 10 million visits per annum in the coming years.
This acquisition is a unique opportunity for Unibail-Rodamco to acquire a large prime asset and to complement its portfolio of large malls in the Barcelona region (La Maquinista and Glories).
With a financial vacancy of 15.8% at acquisition, the shopping center benefits from a significant growth potential through the introduction of international premium retailers and an increase in tenants' sales.
The scheme was acquired for a total amount of €189 million including transaction costs.
The Group also announces that it has completed the disposals of two shopping centers.
Unibail-Rodamco's 50% stake in Allee-Center Magdeburg, Germany, was sold on Friday (October 7) to Deutsche Euroshop for a net disposal price of ca. €117 million.
On September 20, 2011, Unibail-Rodamco sold its Piazza Center shopping center and offices in Eindhoven, the Netherlands, for a total net disposal price of ca. €109 million. The purchaser was a consortium comprising of Wijs & van Oostveen Vastgoed, TB Investments and Condo Inventures.
Guillaume Poitrinal, CEO, said: "The Splau deal illustrates Unibail-Rodamco's opportunistic ability to pursue a high quality acquisition in the current environment."