Hungarian real estate developer and investor Indotek Group has acquired two shopping centres, one located in Valencia and the other in Barcelona, from Socimi Merlin Properties. The amount of the transaction has not been disclosed, Forbes reports.
The group said that, with this move, it seeks to consolidate its presence in Spain and substantially increase the size of its commercial assets in the Iberian Peninsula. Indotek has been very active there having bought several supermarkets, a medium-sized commercial park and six hotels in various locations on the Mediterranean coast.
The acquired centre in Valencia (Factory Bonaire in Aldaia) has 60 stores totalling a commercial area of approximately 11,000 sqm but it can be extended by another 7,000 sqm. The Vilamarina Shopping Centre in Viladecans (Barcelona) has approximately 80 stores and a commercial area of more than 32,000 sqm.
Indotek Group's International Transactions and Asset Management Director, Krisztián Hornok, has affirmed that the company seeks to strengthen its presence in the Spanish retail sector as part of a "strategic move" to invest in high-potential assets.
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