Vukile acquires its first Spanish shopping centre.

On Thursday the 10th, Vukile announced yet another Spanish real estate investment, this time its their first fully fledged Spanish shopping centre, located in the town of Torrevieja, in the province of Alicante.

It has been acquired through Vukile’s 98.7% owned subsidiary Castellana Properties Socimi S.A., which is co-owned by the Morze family. Following a series of investments, including 13 Spanish retail parks acquired during 2017, the portfolio is worth c. €400,000,000.

The Habaneras scheme has been acquired for c. €80 million, and an NIY of 6.1% with 50% financing from Aareal Bank.

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