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A Mexican Investor Offers €25M for Espacio Torrelodones

A private Mexican investor has made an offer to ASG to buy the fund's shopping centre in Madrid and is already seeking financing to undertake the operation.

Centro comercial Espacio Torrelodones di design 1024x686 1
Espacio Torrelodones shopping centre. Photo: Didesin.

The sale of the Espacio Torrelodones shopping centre, located in the Madrilenian town of the same name and owned by the fund ASG, has been reactivated days after falling fallow.

In the midst of the Covid-19 crisis, with investment in real estate falling by 70% around the world due to the uncertainty generated by the effects of the virus on economies everywhere, this operation has done an about-turn after the pandemic had a serious impact on the plans of investors and real estate operators.

Specifically, a private Mexican investor has made an offer to purchase this establishment, which has a gross leasable area (GLA) of 33,000 square metres and which was opened in 2006. For this asset, the private investor is reportedly willing to pay €25 million, according to various sector sources speaking to Brainsre.news. However, sources at ASG assure that the operation is not currently in the negotiation phase.

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