ORES pays €31M for Millenium retail park.

Olimpo Real Estate Socimi (ORES), the Spanish REIT which was launched by Bankinter & Sonae, has acquired an 11,353m² retail park in Madrid’s Majadahonda suburb for €31M. Opened in 2002, the property is anchored by Media Markt, Aldi & Toys´r´us.

According to Salvador Gonzalez, director of retail capital markets at Savills, «Millenium has been a unique opportunity given its urban location in an important retail hub which still offers an upside angle. This transaction demonstrates the large amount of institutional investor interest in Spanish retail parks».

 

 

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