Transactions - APRIL 4, 2017

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Patron plans to invest €500m in Spanish real estate

by Andrea Waitrovich

Patron Capital and Eurofund Capital Partners have joined forces to acquire three shopping centers across Spain: El Mirador in Cuenca, Los Alcores in Alcalá de Guadaira near Seville, and Alzamora in Alcoy.

The two companies, which previously teamed up to acquire the Dolce Vita Odeón de Narón, a 269,000-square-foot retail and leisure asset near Ferrol in July 2016, plan to invest approximately €13 million ($14 million) to modernize the three shopping centers and improve the visitor experience, including introducing new national and international brands and increasing the centers’ leisure and restaurant offerings.

El Mirador is the only major shopping center in Cuenca and one of the largest malls in the entire Castilla La Mancha region. Having opened in 2002, it includes more than 60 units with a total gross leasable area of more 177,500 square feet. Notable tenants include H&M, Cortefiel and Carrefour.

Los Alcores is within the Parque Guadaira retail pa

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