Jan 28, 2016
Marathon invests in Spain’s Bahía Azul retail park
Jan 28, 2016
New York-based fund Marathon Asset Management acquired Bahía Azul retail park, located in Spain’s Málaga, from Bahía Málaga Desarrollos Integrales for 18.5 million euros (around $20.1 million at current exchange rates).
The retail center, founded in 2008, counts with 148,000 sq ft of space divided into four commercial areas, as well as 101,000 sq ft of underground parking space, according to BNP Paribas Real Estate, which advised the fund on the transaction.
Bahía Azul is located adjacent to an Ikea store and is a dedicated park for homewear companies. It is currently managed by BNP Paribas REIM and features a wide host of brands such as Worten, Conforama, Schmidt, Prenatal, Mc Donald's, Visionlab and Carrión.
Last June French furniture and decoration brand Maisons du Monde launched a store at the retail park, which marked its debut in Southern Spain.
Marathon Asset Management has offices in New York, London and Singapur, while BNP Paribas Real Estate boasts of over 180 locations and 3,800 employees. The company recorded revenues of 1 billion euros by the end of 2015.
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