Spanish retail increases European market share
Retail sales volume surged in Spain over the past year and a half, a great sign for the market’s recovery. In October, KKR, along with its joint venture partner, Spanish retail operator Neinver, purchased two retail properties for €91 million.
The deal has been just one of many, as Spanish retail investment has been surging of late, and the market has now overtaken France to become the third most active retail market in Europe. Its market share jumped from 1.8 percent to 5.2 percent of the $13.7 billion in EMEA retail investment during the third quarter, according to Cushman & Wakefield (in comparison, retail transaction volume in the United States reached $19.4 billion during third quarter 2014, according to Real Capital Analytics).
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