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Axiare Sells Planetocio to AEW for €20M

Posted by: In: Real Estate 12 Mar 2018 Comments: 0 Tags: , , , , , , , , , , ,
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9 March 2018 – Eje Prime

Axiare has sold off Planetocio. The Socimi, which has been controlled by Colonial since February, has divested the Madrilenian shopping centre to a fund controlled by the manager AEW, which has paid €20 million for the asset.

Located in Collado Villalba, Planetocio is one of the few retail assets that Axiare, which specialises in the office sector, still holds in its portfolio. The operation is going to be closed this week and will see the buyer strengthen its presence in the Spanish real estate, after it acquired the Mercado de Fuencarral for €50 million last August.

Planetocio was constructed in 2001 and has been owned by Axiare since 2014, when it paid €99.5 million to the Dutch fund Wereldhave for a portfolio that, in addition to the shopping centre, contained several office buildings and industrial warehouses, according to Expansión.

In total, the Madrilenian shopping centre has a gross leasable area of 19,222 m2 and 797 parking spaces. Following this sale, the number of retail assets that Axiare holds in its portfolio will be reduced to La Mercedes Open Park (Madrid), Les Gavarres (Tarragona) and ViaPark (Almería).

Axiare’s divestment of this retail asset comes a few weeks after Pere Viñolas, CEO of Colonial, confirmed that the “logical” thing would be for the properties that his firm has inherited following its takeover of the Socimi to be sold gradually, although the group has the “peace of mind necessary to do so when it is most convenient”.

Original story: Eje Prime

Translation: Carmel Drake

The post Axiare Sells Planetocio to AEW for €20M appeared first on Aura Real Estate Experts.

Source:: AURA Real Estate Experts

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