Nhood secures M Core & BN Capital backing for La Maquinilla Retail Park

RPE Capital Markets has advised M Core Property & BN Capital Partners on their venture with Mulliez-owned Nhood.

The municipality of Colmenar Viejo, in northern Madrid, is set to welcome a new retail destination with the development of La Maquinilla, a retail park promoted by Nhood. The project has secured strong backing from M Core Spain in partnership with BN Capital Partners, the new owner of the asset. BN Capital is owned by Stephen Newman Lovell, co-founder of the real estate consultancy Aguirre Newman, which was later sold to Savills.

La Maquinilla has been conceived and managed by Nhood from its earliest phases. The future retail park will comprise a gross lettable area (GLA) of 16,435 sqm, more than 600 parking spaces, and 20 retail units across two levels, with direct access from the M-607. This strategic location positions the complex as a major commercial hub for residents of Colmenar Viejo and the wider northern Madrid corridor.

Key operators have already confirmed their presence, including Decathlon, MediaMarkt, and Kiabi, alongside additional leading brands in fashion, home, leisure, and F&B.

Construction Starts in January; Opening in Spring 2027

Construction work is set to begin in January, with the official opening planned for spring 2027. Acting as Delegated Developer, Nhood has successfully completed all required actions—urban planning procedures, commercialisation, and technical coordination—ensuring the project is ready to enter its construction phase.

“This project reflects our strong appetite for the retail sector, particularly for the retail park format, and reinforces the group’s growth strategy in Spain, consolidating our presence in this market,” stated Alfonso Cuesta, Managing Director of M Core Spain.

With extensive experience in complex development models, Nhood continues to champion projects that generate positive social impact, foster urban dynamism, and promote new ways of living in the city.

Andrés García, Head of Development & Promotion at Nhood, emphasised the project’s relevance for the region:
“We appreciate M Core’s confidence in joining us in this development, which represents a new boost for the north of Madrid. This project strengthens our commitment to Colmenar Viejo and its surroundings. We aim to help stimulate the local economy, attract new employment opportunities, and offer residents a modern, accessible, and sustainable space in an area experiencing significant residential expansion.”

A Project Developed in Coordination With the City Council

La Maquinilla is being developed in close collaboration with the Colmenar Viejo City Council, with the shared objective of supporting the municipality’s economic and urban growth through a responsible development model aligned with local needs and community priorities.