Monday, October 26, 2020
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The Fund Northwood Bids for 50% of the Xanadú Shopping Centre

To date, the fund Northwood and the South Korean investor Samsung SRA have both expressed their interest in the shopping centre. Intu, which owns 50% of the asset, intends to close the operation before the end of the year.

The investment fund Northwood has expressed its interest in taking over the Xanadú shopping centre in Madrid. Specifically, the firm had already shown its interest in the centre even before the British group Intu Properties engaged the consulting firm to conduct an orderly process to sell its 50% stake.

However, Intu, which owns 50% of the commercial asset, was not allowed to negotiate with other investors because Nuveen, the owner of the other 50%, had a right of first refusal option that expired in August and which it did not use. Nevertheless, this does not mean that Nuveen cannot now participate in the competitive process organised by the consultancy, according to El Economista.

Read the full article in Spanish.

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