FREY continues to expand in the Iberian Peninsula by acquiring one of Spain’s largest retail parks in Cartagena
After the acquisition of Finestrelles in Barcelona, FREY announces that it has acquired, from private investors, the Parque Mediterráneo retail park, for a total amount of €83 million.
Commenting on the acquisition, Antoine Frey, Chairman and Chief Executive Officer of FREY, said: “We are very pleased to have a new Spanish asset in FREY’s portfolio. Parque Mediterráneo is a retail park with solid fundamentals and extremely strong potential for conversion to our Shopping Promenade® standards. The acquisition reinforces our position in the Iberian Peninsula, where we now have four owned assets and a project under development. It also marks the acceleration of our expansion strategy to support our ambition to become the European leader for sustainable retail.”