Barings acquires Shopping Centre in the capital of La Rioja.

Cushman & Wakefield has advised Barings Core Spain, S.L.U, (managed by Barings Real Estate Advisers) on their c. €101 million acquisition of Berceo Shopping Centre in Logroño, the capital of Spain’s Rioja wine growing region. 

The circa 38,000m² property had a footfall of 6.8 million in 2017 and is almost fully let to a diverse mix of high quality tenants including a number of the Inditex brands (Zara, Pull & Bear, Zara Home, Stradivarius, and Bershka), Primark, H&M, Media Markt, El Corte Inglés, Forum and Yelmo (one of Spain’s leading cinema operators). The shopping centre is located adjacent to a Carrefour hypermarket, acquired by Spanish Reit Olimpo Real Estate SOCIMI in September of 2017.

The vendor, Retail Property Fund Ibérica (RPFI) (managed by CBRE Global Investors) was advised by CBRE.

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