Home » Bavarian Bank's real estate fund to invest 350 million euro in Spain
Bavarian Bank's real estate fund to invest 350 million euro in Spain
Real IS, the real estate fund of Bavarian Bank resumes its interest in Spain. The company, which last Tuesday announced the acquisition of the Terrassa Plaça Shopping Center in Barcelona, will allocate around 350 million euros in investments in the Spanish market in the coming years.
During the next exercises, Real IS will invest 80 million euros annually in purchases in Spain, according to Cinco Días. The fund manages assets for more than 7,500 million euros and has a track record of more than five decades in the real estate business.
Real IS entered the Spanish market in 2000, to abandon it in 2007, when the upward cycle of the real estate sector in the country ended. The company has recently opened an office in Madrid, with the aim of expanding its portfolio of assets in the country, the company said in a statement.
Last week, Real IS confirmed its return to Spain with the purchase of the shopping center Terrassa Plaça. The operation, whose amount has not transcended, was carried out on a complex with a gross leasable area (GLA) of 29,466 square meters. Inside, Terrassa Plaça welcomes brands such as Sprinter, Gifi, Globo or the restaurant chain La Tagliatella, among others.
The above article was written and published in Spanish and has been translated into English. Click here to read the original article.