Henderson Park and Eurofund Group have agreed the sale of the Islazul shopping center in Madrid to Castellana Properties, a listed company specializing in the acquisition and management of retail assets across Spain and Portugal, for €340 million ($401 million). The transaction is expected to close on April 30.
Henderson Park acquired the asset in 2024 in a joint venture, with Eurofund Group acting as operating partner. During its ownership, the joint venture has executed a comprehensive repositioning strategy, reinforcing the center’s dominant market position through extensive capital investment, operational improvements and a full remodeling program scheduled for completion this spring. The refurbishment has materially enhanced the customer experience, including the introduction of flagship stores, upgraded common areas and optimized customer flows, driving increased footfall and longer dwell times.
Islazul is one of Madrid’s leading retail and leisure destinat
