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April 24, 2018

Acquisition of Parc Vallès


FREY confirms its international expansion strategy with the acquisition of the Parc Vallès open-air shopping centre in Barcelona.

FREY, the property investment company specialised in the development and management of open-air shopping centres, has announced its acquisition of Parc Vallès, a Spanish shopping centre, from a fund managed by Pradera, for the sum of €82.5 million.
According to Antoine Frey, Chairman and Chief Executive Officer: “This acquisition marks the resumption of our development in Europe. We are pleased to start with Spain, a country in which we developed several assets in the 2000s and in which the economic fundamentals are once again promising. Parc Vallès, in Barcelona, is a high-quality asset whose shopping and leisure positioning attracts more than 10 million visitors each year.”

Situated to the north-west of Barcelona, in Terrassa, Parc Vallès is an open-air shopping centre with a number of sound fundamentals:
– an exceptional catchment area of 690,000 inhabitants less than 15 minutes away, centred on Terrassa, the fourth largest town in Catalonia,
– an attractive and comprehensive shopping and leisure offer, over a retail area of 42,000 m² offering visitors a number of local and international brands including Mango, Nike, Maisons du Monde, MediaMarkt, Burger King, a Mercadona supermarket and a 16-screen cinema, one of the largest in Spain, with around 900,000 admissions per year, – net annual rental income of €5.3 million, an occupancy rate of 98% and a flow of more than 10 million visitors each year.
Opened in 1998 and renovated in 2015, it has a number of points in common with the spirit and aesthetics of FREY’s Shopping Promenade. The Group plans to make further investments to continue creating value.


Acquisition of Parc Vallès


FREY confirms its international expansion strategy with the acquisition of the Parc Vallès open-air shopping centre in Barcelona.

FREY, the property investment company specialised in the development and management of open-air shopping centres, has announced its acquisition of Parc Vallès, a Spanish shopping centre, from a fund managed by Pradera, for the sum of €82.5 million.
According to Antoine Frey, Chairman and Chief Executive Officer: “This acquisition marks the resumption of our development in Europe. We are pleased to start with Spain, a country in which we developed several assets in the 2000s and in which the economic fundamentals are once again promising. Parc Vallès, in Barcelona, is a high-quality asset whose shopping and leisure positioning attracts more than 10 million visitors each year.”

Situated to the north-west of Barcelona, in Terrassa, Parc Vallès is an open-air shopping centre with a number of sound fundamentals:
– an exceptional catchment area of 690,000 inhabitants less than 15 minutes away, centred on Terrassa, the fourth largest town in Catalonia,
– an attractive and comprehensive shopping and leisure offer, over a retail area of 42,000 m² offering visitors a number of local and international brands including Mango, Nike, Maisons du Monde, MediaMarkt, Burger King, a Mercadona supermarket and a 16-screen cinema, one of the largest in Spain, with around 900,000 admissions per year, – net annual rental income of €5.3 million, an occupancy rate of 98% and a flow of more than 10 million visitors each year.
Opened in 1998 and renovated in 2015, it has a number of points in common with the spirit and aesthetics of FREY’s Shopping Promenade. The Group plans to make further investments to continue creating value.