Global real estate investment manager AEW has acquired Alcora Plaza, a prime, grocery-anchored retail park in Parque Oeste, Madrid in Spain.
Financial details were not disclosed.
The asset was acquired on behalf of one of AEW’s funds from Goldman Sachs Asset Management, who purchased the former Ikea store in 2017 and transformed it into a multi-tenant retail park.
Alcora Plaza comprises 16,400 m2 of recently refurbished space divided into fourteen retail units, alongside a food court, recreational area and external and indoor parking areas.
Carsten Czarnetzki, head of Spain at AEW, commented: 'Alcora Plaza is situated in one of the most attractive retail locations in Madrid with high footfall and is occupied by a diverse mix of high-quality tenants.
'We are confident that prime retail assets with an attractive offering, such as Alcora Plaza, will continue to perform well and provide sustainable returns for investors.'
Source: propertyeu.info on the 23rd of May