- With more than 150,000 sqm under management, the socimi becomes Spain’s number one operator of retail parks
- Rivas Futura is Lar España’s first large retail asset in Madrid, the third complex of the region and ninth in Spain by size
- Over 400,000 people live within a 20 minute drive from the retail park, located in a municipality with one of Europe’s highest population growth rates
- The asset is visited every year by six million people and it has an occupancy of 94%
Lar España Real Estate Socimi S.A. (LRE), the listed real estate investment company, has acquired the Rivas Futura retail park in Madrid for EUR 62 million. Hence, it becomes the socimi's first large retail asset in Madrid and it reinforces Lar España’s retail portfolio. In addition, this acquisition makes Lar España the first retail park operator in Spain, with 152,000sqm under management – apart from Rivas Futura, it has Megapark Barakaldo, Parque Abadía in Toledo and Parque Vistahermosa in Alicante.
Rivas Futura is, with a gross leasable area (GLA) of 55,000sqm, Madrid’s third largest retail park and Spain’s ninth. It has six million visits per year and an occupancy of 94%. The complex has 24 tenants, with retailers such a as Media Markt, Conforama, Toys R Us and Kiabi.
The retail complex is located in Rivas Vaciamadrid, 15 kilometers away from Madrid’s city center and in a municipality with one of Europe’s highest population growth rates – the population has grown 184% between 2000 and 2017 -. Nearly 400,000 people live within a 20 minute drive from Rivas Futura.
Lar España Real Estate currently owns 31 properties valued a EUR1,521 million, of which; EUR1,163 million relate to shopping centres located in Madrid, Toledo, The Balearic Islands, La Rioja, Vigo, Valencia, Seville, Alicante, Cantabria, Lugo, León, Vizcaya, Navarre, Guipúzcoa, Palencia, Albacete and Barcelona; EUR86 million to office buildings; EUR87 million to logistics properties; and EUR185 million to developments under construction.
Source: Lar España