VastNed Retail sells Spanish shopping center

VastNed Retail has sold its interest in shopping centre “El Bulevar” in Getafe, Spain for EUR 20.5 million to Warburg-Henderson Kapitalanlagegesellschaft.

The sale has been realised at a price 5% above the latest appraisal value of December 31, 2003. ‘El Bulevar’, located south of Madrid, is a shopping centre of 24,000 square metres, in which VastNed Retail owned all retail units except the hypermarket, cinema and electronics store.

Hans Pars, director Southern Europe: ’We are very happy with this sale, which fits into our active management approach and aim to improve the performance of our real estate portfolio”.

Source: VastNed

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