Deka Immobilien has sold the shopping center `Espacio Mediterráneo´ in Cartagena for €135.4 million.
With the sale of this almost fully leased property to Lighthouse Properties p.l.c., our open-ended real estate fund WestInvest InterSelect marks a strategic milestone in its active portfolio and liquidity strategy for shopping centers in Spain:This transaction completes the strategic disposal of all „out-of-town“ shopping centers held by Deka Immobilien on the Iberian Peninsula. At the same time, the fund strengthens its liquidity position and realizes capital gains at the fund level.
Built in 2007, the two-level property comprises around 49,551 sqm of total rental space, including 31,460 sqm of retail space. The center also features a food court, a cinema, and 1,508 parking spaces in both underground and surface areas. It remains economically robust, with solid footfall and sales figures as well as a strong tenant mix.
Espacio Mediterráneo is located in the “Cabezo Baeza” commercial district, northeast of Cartagena’s city center, which can be reached in approx. 10 minutes. The property is well connected to regional and national infrastructure via the nearby A7 and A30 highways. Murcia Airport is just 18 minutes away, while Alicante International Airport is accessible within an hour.
