TA Europe could once again demonstrate the capability of our Spanish Real Estate team, focussing on international clients, purchasing, managing and selling projects in Iberia and South America. ECE acquired the large shopping centre “intu Asturias” in Oviedo for one of their European Shopping Centre Funds, the centre is the first asset of the fund in Spain. The centre purchased for 290 million Euro contains 140 shops and 5000 parking spaces. TA Europe’s international acquisition team consisted of 8 local Spanish consultants and 3 members from Germany and Belgium.
The tailored package included a full technical due diligence, a detailed facade report, an on-site Health & Safety test with simulations of the different fire procedures, a pre-energy audit and an EDD incl. water analysis.
TA Europe provided one single point of contact for the client for all different investigations in the different fields, who managed the whole team and could report to the investors in the German language. Through our local teams, we were able to provide our client with the local knowledge about building standards, legislation and habits.
TA Europe’s Partner Sebastian Frohwann comments: “Again, our successful involvement in this deal demonstrates TA Europe’s capability to support our clients with their international real estate deals, our flexibility and the ability to mobilise and organise an international team of technical experts quickly and effectively in any European location. The Spanish real estate market is of particular interest to us, as the overall economy is well developing and the real estate market is coming more and more into the focus of our clients.”
Besides the intu Asturias transaction, TA Europe’s track record in Spain includes a variety of office and logistic assets in real estate as well as infrastructure projects. Our Partner Mercedes Martin operates from Madrid and delivers in whole Iberia and different countries in LATAM.
Please contact us, if you have any further questions.