Who are the owners of shopping malls in Spain?

Half of all shopping centers in Spain are owned by a limited number of companies.
Carrefour, Alcampo, Tomás Olivo, Lar España, Castellana Properties or URW are some of the companies with the most assets.

There are 574 shopping centers and parks in Spaintotal 16.5 million square meters and 33,480 stores. Although it is a highly fragmented market with wealthy families or small investors, there is a group of large owners that dominate a large part of this market. According to data given to EL PERIÓDICO DE ESPAÑA by the Spanish Association of Shopping Centers, which organizes most of them, 46.9% of the centers in Spain are in the hands of institutions with four or more shopping malls.

Who are the big owners of shopping malls in Spain?

Carrefour

The king of shopping malls in Spain is undoubtedly Carrefour and the companies surrounding the supermarket chain. The first of these is the Carrefour Property it owns. 109 shopping malls32 of them have an area of more than 80,000 square meters. According to the data shared by the company itself, the sum of all these assets corresponds to 1.7 million square meters of gross leasable area. Second, it does not officially publish the value of these properties; According to the accounts submitted to the Trade Registry, 2,512 million euros.

Another pillar of Carrefour is Carmila.It is a publicly traded real estate company in which it owns 35.5% of its shares. Managed by Sebastián Palacios in Spain, this company has headquarters attached to one of the firm’s supermarkets. Currently, it has 79 facilities in our countryWith 506,000 square meters and approximate valuation €1.418 millionAs reported in the latest results presentation to the French stock market.

to the field

Another of the big supermarket companies, Alcampo has an empire of malls with two legs: Alcampo and Ceetrus, owned by Auchan It belongs to the French Mulliez group, which owns companies like Alcampo, Leroy Merlin or Decathlon. According to data from AECC, Ceetrus owns 32 properties, while Ceetrus announces on its website that it owns or co-owns 53 properties. They have their own asset managers Nhood along with other funds like Morgan Stanley, Pharos Real Estate or Primonial and CNP.

Castellana Properties

Socimi Castellana Features, Owned by South African fund Vkileis one of the largest shopping mall owners in Spain. The portfolio is 16 and 350.085 square meters in total; As of September 30, 2022, worth 1.011 million euros.

Your portfolio of assets Predominantly in Andalusia and Extremadura, where has 6 and 4 respectively. The rest are Parque Principado (Siero), Vallsur (Valladolid), Ciudad del Transporte (Castellón), Habaneras (Torrevieja), Parque Oeste (Alcorcón) and Pinatar Park (San Pedro del Pinatar).

Merlin Features

This is one of the few Spanish-owned investment vehicles. owner A total of 653,519 square meters, 14 in Spain and one in Portugal. They are highly distributed by communities, although the capital city of Tres Aguas (Alcorcón), X-Madrid (Alcorcón), Centro Oeste (Majadahonda), Arturo Soria (Madrid) and Callao 5 (Madrid) dominates.

Its largest center is Marineda City in A Coruña.adds up to about 176,000 square feet. The rest are Porto Pi (Mallorca), Saler (Valencia), Larios (Málaga), Artea (Bilbao), Centro Oeste (Majadahonda), Vilamarina (Viladecans), Arenas (Barcelona), La Vital (Gandía), and Bonaire (Valencia). . At the end of the third quarter of 2022, 94.8% of these assets were leased and worth 2,195 million euros.

At the time of its establishment, the Ibex-35 listed company acquired assets such as Marineda, but most of them were acquired by Testa and Metrovacesa, such as Porto Pi, Larios or Centro Oeste.

s Spain

Lar España is another of Socimis, partly the capital city of Spain, with shopping malls. in your case, It is a tool that focuses only on such entities. Behind this company is Vkile, the fund of Castellana Properties that owns 25% of its shares in South Africa; In addition to manager Grupo Lar, which owns 11%. It shares shares with other companies, such as the Santalucía insurance company or several North American pension funds.

Total, The portfolio includes 14 shopping centers and parks worth €1.474 million., making it one of the largest companies in the entire national spectrum. However, the stock market sees the entire company as worth 368 million, although valuation experts value its assets at that amount, which is 900 million after deducting debt. In other words, the company trades with a discount of close to 60% on the value of its headquarters.

Where are they located? Lar’s center portfolio is not heavily weighted in Madrid, where it has only one presence in the town of Rivas. The remaining 13 are in Vigo, Ponferrada, Seville, Albacete, Alicante, Lugo, Castelldefels, Irún, Palencia, Toledo, Alicante, Barakaldo and Sagunto.

Commercial Galleries General

Boss Tomás Olivo, one of the richest people in Spain, is also included in this ranking. Not the largest number of centers, but one of the most valuable. Through General de Galerías Comerciales, in which he owns 99.58% of the shares, 9 assets with a market value of 2,600 million eurosAs reported at the end of 2021.

With the decreasing number of centers compared to its competitors, the number of square meters allocated to the gross leasable area, that is, to the stores, is superior, 918,690 square meters. In addition, there are plans to invest 500m euros to expand three of them and develop a new one in Madrid called Valdebebas Shopping.

Parque Comercial La Cañada (Marbella), Mediterráneo (Almería), Mataró Parc (Mataró), Gran Plaza (Roquetas de Mar), Las Dunas (San Lúcar de Barrameda), Nevada Shopping (Granada), Las Terrazas and the rest of its centers Outlet ( Las Palmas), El Mirador Shopping (Las Palmas) and Dos Mares (Alicante Highway).

URW

Unibail-Rodamco-Westfield (URW) One of the big giants of European shopping centers located in Spain. This company, which is traded on the French stock exchange, has assets worth 47,694 million euros, of which 3.647 million belongs to our country. This makes him the owner of the largest shopping mall whose portfolio has the highest value.

Spain has eight entities on its territory, all in big cities: Madrid, Barcelona, u200bu200bValencia and San Sebastian. Its portfolio totals 615,400 square feet, which is higher than some of its competitors with many more properties. Its headquarters are in La Vaguada (Madrid), Parque Sur (Madrid), Equinoccio (Madrid), La Maquinista (Barcelona), Glòries (Barcelona), Splau (Barcelona), Bonaire (Valencia) and Garbera (San Sebastián).

The rest

investment manager Nuveen Real EstateIn Spain, led by Marta Cladera, have centers “Xanadú, Islazul and Nervión Plaza et al; in addition to 50% of Style Outlets,” as they explain to this medium. Nuveen RE’s commercial assets in Spain reach €1,500 million. Another of the international funds present in shopping malls in Spain MDSR Investments. Originating in Israel and existing since 2015, it accumulates five properties: Connecta Córdoba (Córdoba), Parque Comercial La Dehesa (Alcalá de Henares), Mercado de Campanar (Valencia) and Parque Comercial Puerta del Ave (Ciudad Real).

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Who are the owners of shopping malls in Spain?

Half of all shopping centers in Spain are owned by a limited number of companies.

Carrefour, Alcampo, Tomás Olivo, Lar España, Castellana Properties or URW are some of the companies with the most assets.