Carmila acquires shopping centre in Malaga for €25m

Carmila, the 3rd-largest listed operator of commercial house in continental Europe, has agreed to purchase Rosaleda, a searching centre in Malaga, Southern Spain, for €24.6 million.

The centre, which is built up of 73 outlets connected to a Carrefour hypermarket, has a gross leasable spot of 15 500 sq.m. and consists of two larger sized outlets (Decathlon and Lefties, the trend retailer belonging to the Inditex Team).

It rewards from a major posture in its catchment region, a leisure complex with a cinema and potent footfall, with 5.8 million website visitors a calendar year.

This transaction is element of the asset rotation programme announced at Carmila’s Capital Markets Day in December 2021 and follows the announcement of an agreement to sell a portfolio of six assets in France.

The acquisition is an opportunity for Carmila to put to further use its expertise in renovation and improvement of the merchandising mix in centres of this kind.

Carmila has a portfolio of 78 assets in Spain, valued at EUR 1.4bn, including two shopping centres close to Malaga, one of the country’s most dynamic cities and a popular tourist destination.

Marie Cheval, Chair and Chief Executive Officer of Carmila, commented: “Carmila has made another step in the roll out of the asset rotation strategy announced in December 2021. After the agreement to sell a portfolio of six mature assets in France, Carmila is acquiring, on favourable terms, a high-potential shopping centre in Malaga in Spain.”