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Acquisition of a retail park in Castellón, Spain

Catella Asset Management Iberia has acted as investment and asset manager on behalf of Belgian developer and investor Mitiska on the acquisition of the retail park Portal Mediterráneo, located in Castellón. Portal Mediterráneo is a consolidated retail park with upside potential. The asset has a GLA of 12,363 sq.m, consisting of 1,200 parking spaces and 14 retail units. Catella sourced the deal, assisted the investor on the acquisition process and will remain as strategic asset manager for the property.

Characteristics and strategy

Characteristics

Opened in 2005
1,200 parking spaces
14 retail units

Strategy

Lease up vacant space
Optimizing tenant mix
Optimizing structure of lease contracts
Improving NOI

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