Lar Spain Real State Socimi SA has finally materialized the acquisition of the entire shopping complex Portal de la Marina, in Ondara, with the purchase of the 41% of the remaining assets to control the shopping center. The purchase, which was approved by the Extraordinary Shareholders Meeting last December, has materialized for a price of 14,58 million euros.
In October 2014, Lar España acquired 59% of the complex, and now, with the acquisition of the remaining asset, the company will be able to promote an ambitious management plan. The complex, valued at 94,5 million euros, distils some figures to take into account, since in 2015 it registered an increase in sales of 13% compared to the previous year - well above the average for the sector in Spain - and an increase in the number of visitors from 6%, to 3,76 million.
José Manuel Llovet, Director of Retail, said that "With this acquisition we have consolidated 100% of Portal de la Marina, an excellent regional commercial complex, and this allows us to accelerate the decision-making process and boost our ambitious management and value creation plan".
Lar España Real State Socimi SA is a Spanish company listed on the Spanish Stock Exchanges, incorporated SOCIMI "Public Limited Investment Company in the Real Estate Market".
