Barings, on behalf of a core European real estate strategy, has sold the Berceo shopping center to Castellana Properties for €108 million ($118 million).
The shopping center, located in the Autonomous Region of La Rioja, is the dominant retail asset in the province and the only major retail destination within a 100-kilometer (62-mile) radius. Since opening in 2003, the center has maintained performance supported by tenants including Zara, Primark, Carrefour and Mediamarkt. The property recorded 6.3 million visits in 2025.
Castellana acquired 34,416 square meters (370,500 square feet) of gross leasable area, representing 100 percent of Barings’ interest.
José Carlos Torres, managing director and country head Iberia at Barings Real Estate, said the transaction reinforces the firm’s capital rotation strategy.
Gunther Deutsch, managing director and head of European transactions at Barings Real Estate, said the firm completed six transactions in Spain t
