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ASG Postpones the Sale of the Espacio Torrelodones Shopping Centre

To date, the fund has invested €5 million in remodelling the shopping centre it acquired next to La Sexta Avenida (Madrid) in 2016.

Centro comercial Espacio Torrelodones de ASG 1
Espacio Torrelodones shopping centre in Madrid.

The investment fund ASG has decided to postpone the sale of the Espacio Torrelodones shopping centre in Madrid, a process that it had recently started by engaging Savills Aguirre Newman as the agent, according to sources in the sector speaking to Brainsre.

In 2016, the real estate investment manager led by Brian Bettel disbursed €61 million for three tertiary assets: Espacio Torrelodones and Sixth Avenue in Madrid and Ruta de la Plata in Cáceres. A few weeks ago, it commissioned the consultancy Savills Aguirre Newman to sell Espacio Torrelodones, as announced by Idealista news, after investing €5 million in its repositioning. The firm expects to receive between €15 million and €20 million for the asset.

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