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Barings finances €40m for Spanish retail park development
Transactions - AUGUST 5, 2019

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Barings finances €40m for Spanish retail park development

by Released

Barings has provided, on behalf of one of its managed accounts, a €40 million ($45 million) senior construction loan to finance the development of a retail park in Dos Hermanas, located outside of Seville, Spain.

The 36-month loan, which has been provided to a joint venture between Kronos Investment Group and a global investment management company, will fund the construction of a 64-unit, 48,646-square-meter (523,621-square-foot) retail park, with 2,000 parking spaces, including electric car charging stations.

The development is being positioned as the new town center, providing leisure and food and beverage offerings, and an “events plaza”.

The project is over 70 percent pre-let, ground and infrastructure works have been completed, and full planning and building permissions have been obtained. The retail park is expected to open in summer 2020.

“This is our latest loan to close in Western Europe as we continue to build our global debt platform,

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