Azora, a Madrid-based European private equity real estate manager, has acquired the Planetocio leisure centre, located in the Collado Villalba suburb of Madrid. The acquisition is the first in the leisure segment for Azora’s new multi-strategy investment vehicle, Multi Strategy JV II. The price was not disclosed.
Originally constructed in 2001, the 21,000 square metres Planetocio leisure centre is 95% occupied with an 80% focus towards leisure and entertainment. Tenants include Yelmo Cines and Media Markt, as well as several restaurant chains including McDonald’s and Ginos.
The centre recovered quickly from the challenges of the pandemic, outperforming its competitors thanks to its large leisure offer, with steady growth in both footfall and sales which have increased 5.8% and 9%, this year compared to 2022, Azora sources said.
Source: realassets.ipe.com on the 15th of November