Spanish property company Prima has sold two properties in Spain and Portugal to German firm IVG for €37.3m (Pts 2.6bn).
El Edificio Omni, one of the 50/50 joint venture projects Prima undertook with German company RSE a year ago, is in Lisbon’s CBD and provides 5,100m2 of offices and 96 car-parking spaces. It was sold for around €15.6m (Pts2.6bn), providing a €2.4m (Pts400m) profit for the company, which it will share with RSE.
The other sale was of the La Vaguada shopping centre in Madrid, providing 10,309m2 and 300 car-parking spaces. Prima said the profit on this transaction was €6.6m (Pts1.1bn). CB Richard Ellis advised Prima on the deals.
Meanwhile, Prima has completed the acquisition of 57.7% of the Parque Astur development in Covera’s Asturia district, in the centre of the Oviedo-Gijon-Aviles triangle. The stake covers the 10,515m2 shopping element of the scheme.
In the first six months of this year, Prima has invested €106m (Pts17.6bn) in shopping centres.
