Deka Immobilien GmbH has invested approximately €18 million to acquire the Adolfo Dominguez retail property in Madrid. This asset will be transferred to the portfolio of WestInvest TargetSelect Shopping, a sector fund for institutional investors. The building was sold by a Spanish property company. Constructed in 1920, the property is located on the Calle de Serrano shopping street in the city’s Salamanca district. Its most recent comprehensive refurbishment was completed in 2011. Spanish fashion house Adolfo Dominguez leases the total floor space of around 2,500 m² for one of its flagship stores.
WestInvest TargetSelect Shopping has taken advantage of an investment opportunity against the cyclical trend to acquire this property in an upmarket location in Spain’s capital city.
Source: Deka Immobilien