Investment fund Orion Capital Managers has agreed to sell prime Madrid mall Plenilunio to French company Klépierre for €375m (£268m).
The 753,474 sq ft shopping centre, which was opened in 2006, includes Spain’s largest Primark store.
Cushman & Wakefield advised Orion Capital Managers.
Rupert Lea, partner and head of capital markets retail at Cushman & Wakefield, said: “I believe that this is the last major shopping centre to sell in Madrid for the next 10 years. The price achieved is yet another indication of the new market trend: strong demand and lack of prime product.”
