Hungarian real estate fund Indotek has purchased Espacio León shopping centre in the northern Spanish city of León from Blackstone for €45 million.
The retail project has a leasable area of 37,000 sqm and hosts more than 80 stores.
The centre was purchased by Blackstone in 2015 and was initially put up for sale during 2019 for €100 million. The price was later dropped to €60 million.
The deal strengthened Indotek’s presence in Spain. Earlier this year, the fund purchased two retail projects in Valencia and Barcelona from Merlin Properties portfolio for €22 million. At the same time, Indotek purchased a hotel project in Jaén at the end of last year.
