Find in the news:
BY COUNTRY

Klepierre acquires Plenilunio, a major shopping center in Madrid



Pleniliunio is a leading 70 000 sq.m. shopping center located in Madrid.
Klépierre signed an agreement to acquire 100% of Plenilunio from the Orion European Real Estate Fund III C.V. Pleniliunio is a leading 70 000 sq.m. shopping center located in Madrid. With a large and updated fashion offer, high quality architecture and a prime location, Plenilunio is one of the major shopping center in the region around Madrid where Klépierre already owns two of the most prominent shopping malls: La Gavia (Southeast Madrid) and Principe Pio (Madrid center). This acquisition complements Klépierre’s existing retail platform in Spain and enhances its Spanish portfolio profile. This investment is consistent with the strategy to focus investments on leading retail assets in the most growing regions of Continental Europe.

Plenilunio Madrid Spain Plenilunio has established itself as the dominant urban retail destination for the eastern part of Madrid. Opened in 2006 and strategically located 11 km east of the city center of Madrid – Europe’s third largest city – Plenilunio welcomes 10.5 million visitors annually. This shopping destination addresses retail demand of a large and affluent catchment area of 1.5 million inhabitants within a 15-minute drive. At the crossroads of busy motorways - one going to Barcelona and the other coming from the Madrid Barajas International airport -, it enjoys very good visibility from Madrid’s major ring roads.

In addition, there are several bus routes connecting Plenilunio to Madrid’s city center and its surrounding residential districts. Population within its catchment area is dense and growing, with 14 000 new residential housing units being built. The purchasing power within the area is 30% above the Spanish national average, with 33% of households in the highest income bracket.

With a 99.3% financial occupancy rate as of December 2014, Plenilunio delivers strong growth, with retailer sales up by 15% in 2014 compared to the previous year. It brings together a large and updated fashion offer as well as a top supermarket within a space of high architectural quality.

The shopping mall extends over 70.000 sq.m. GLA on 3 levels, with a comprehensive retail offer of 230 shops: in May 2014, Primark extended its floor area to 6 700 sq.m. becoming the largest Primark store in Spain. Inditex’s main brands have all opened stores: Zara, Pull&Bear, Bershka, Massimo Dutti, Stradivarius and Zara Home.

Other main anchors: Mercadona, H&M, Mango, Desigual, C&A, Cortefiel, Mediamarkt, Sfera, Yelmo cinema.

This acquisition enhances Klépierre’s exposure in Spain, with more than 80% of the portfolio value coming from five leading shopping centers – the three aforementioned in Madrid Meridiano (Tenerife) and Mare Magnum (Barcelona) – confirming the Group’s position as a key partner for retailers entering or expanding in the country. Following this transaction, Klépierre gains significant scale in this attractive region: the Group’s portfolio value in Spain will total 1.4 billion euros.

Plenilunio will add approximately 21 million euros of annual gross income to Klépierre. The Group has identified a number of leasing and property management actions that will further increase Plenilunio’s cash- flows generation and accelerate its differentiation.

The price is based on a gross asset value of 375 million euros. With a liquidity position of 2.7 billion euros at year-end 2014, Klépierre plans to finance this investment via its own funds but may also consider mortgage financing for a limited part. The acquisition is expected to be completed by the end of March 2015 under the SOCIMI regime.


More about shopping malls in Spain



Jun 10, 2021, USA:
The National Retail Federation predicts the market will experience the kind of rapid growth "the country hasn't seen since 1984.
Jun 9, 2021, USA:
Several Microsoft experience centers leftover from what was once a large chain of stores will offer more information and the opportunity to buy the company's technology.
Jun 7, 2021, USA:
The billionaire announced that he would fly into space on his own company's ship. The estimated date of flight is July 20th.
Jun 4, 2021, USA:
The three-level retail space in New York City spans about 2,000 square meters.
Jun 4, 2021, USA:
A mall owner has sued Victoria's Secret, saying the company closed the store without paying rent.
Jun 3, 2021, USA:
The company is entering a new market in hopes of recovering from the pandemic.
Friend
and Follow
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia
Hillcrest Mall GLA:585 758 SF
ADDRESS: 9350 Yonge St, Richmond Hill, ON L4C 5G2
Canada . Richmond
Hillcrest Mall
Adigeo GLA:452 084 SF
ADDRESS: Verona city center
Italy . Verona
Adigeo


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us