Thursday, January 28, 2021
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GreenOak Sells an Outlet Centre in Sevilla at a Loss

Gore Spain Holdings Socimi I has sold Sevilla Factory, an outlet centre located in Dos Hermanas (Sevilla), for 6.2 million euros.

Gore Spain Holdings Socimi I, which is owned by the fund GreenOak, has sold the company Inversiones Harwood, which owns the Sevilla Factory complex, an outlet centre located in Dos Hermanas (Sevilla) for 6.2 million euros. That price is 58.6% lower than the valuation made when the vehicle made its stock market debut (15.7 million euros).

The shopping centre in question was acquired from Unibail Rodamco in 2015 for around 15 million euros. The current sales price (6.2 million euros) represents a 58.6% decrease compared to the purchase cost and has been recorded at a time of deep crisis in the shopping centre sector, which has been hit particularly hard by the coronavirus crisis.

Read the full article in Spanish.

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