REDEVCO has acquired a share in Los Fresnos Shopping Centre in Gijon from Testa inmuebles en renta for 45.4 million. The 38,000-m² shopping center houses major national and international retailers such as Carrefour, Inditex (represented by Zara, Pull&Bear and Bershka), Mango, Menaje del Hogar, Fitness First, Los Telares, and New Yorker.
Los Fresnos is situated in the heart of the city of Gijon, between Calle Río de Oro and Avenida del Llano, near the intersection with Calle de Pérez de Ayala. "We are very pleased to add this strong, excellently located shopping center to our Spanish portfolio. The acquisition fits in perfectly with our strategy of investing where people buy," says Javier Hortelano, Managing Director of Redevco Spain and Portugal.
REDEVCO's investment portfolio in the Iberian Peninsula currently comprises 70 properties with an approximate total value of 700 million, 80% of which consists of retail and 20% of logistics and office buildings. The company owns outstanding properties on major shopping streets in Barcelona, Saragossa, Madrid, Seville and Palma de Mallorca. Other investments include retail units in the main shopping centers of Spain and Portugal, as well as logistics centers and office buildings.