Redevco Iberian Ventures, a joint venture between Redevco and U.S. private equity group Ares Management, has acquired the El Corte Inglés department store in the heart of Barcelona to transform it into a highly sustainable, mixed-use prime location.
The JV project represents an estimated total investment of just over €200 million.
The c.18,000 square metres El Corte Inglés building is currently operated as a sports fashion department store over nine floors and is located on the main Porta d’Angel shopping and tourist thoroughfare in Barcelona, with excellent visibility due to its two prominent and large facades.
Source: creherald.com on the 17th of October 2022
https://www.creherald.com/redevco-ares-jv-acquires-barcelona-building-for-mixed-use-project/