Redevco Spain/Portugal has sold to Patron Capital Partners 13 commercial properties (8 empty premises and 5 rented to Dínosol) and 4 underground car parks for a total amount of 30 mln. The properties sold are located at Andalucía, the Canary Islands and Catalonia, and formed part of the portfolio purchased by Redevco from Dinosol (formerly Ahold) in January 2005. The surface area sold to Patron Capital Partners represents a total of 25,000 m².
After the sale to Patron Capital Partners, the value of Redevcoâs investment portfolio in Spain and Portugal reaches the figure of approximately â¬500 mln distributed 92% in commercial properties and 8% in logistic premises and office buildings. The company is going ahead with executing its business plans which include further growth in the Iberian Peninsula through commercial properties (commercial premises located at the city centre, Commercial Malls and Shopping Centres), logistic premises and office buildings.
Through the disinvestment by Redevco, Patron Capital Partners strengthens its bet on the Spanish and Portuguese markets where its goal is to invest â¬500 mln in the next 4 years. Up to now, Patron Capital Partners, along with the BascuÃ±ana Group, has purchased from Inmobiliaria Colonial the Barcelona 2 complex for â¬207
mln. As a result, the value of the portfolio managed by the company amounts to â¬237 mln.