Deka Immobilien has sold a shopping center in Spain from the portfolio of the WestInvest InterSelect open-end real estate fund for approximately €135 million ($158 million). Lighthouse Properties plc, which is listed on the Johannesburg stock exchange and specializes in shopping centers on the Iberian Peninsula, has acquired the property.
The Espacio Mediterraneo shopping center, with a leasable space of approximately 50,000 square meters (538,000 square feet) and more than 1,500 parking spaces, is located in Cartagena, in the southeast of Spain. The shopping center is almost fully let and has anchor tenants such as Zara and Primark. Since its completion in 2007, the property has been owned by WestInvest InterSelect. It has been rated Excellent by BREEAM, the British certification for sustainable construction.
