Catella Asset Management Iberia has acted as investment and asset manager on behalf of AEW Europe in the acquisition of the leisure and retail center Planetocio, located in Collado Villaba, Madrid, Spain. Planetocio is a consolidated leisure center with upside potential. The asset has a GLA of 20, 911 sq.m, consisting of 52 retail units. Catella sourced the deal, assisted the investor on the acquisition process and will be mandated to disposal.
Characteristics and strategy
Opened in 2007/2009 (two phases)
945 parking spaces
52 retail units
Improve design, commercial appeal and image of the center.
Proactive management in order to improve NOI, increase occupancy rate and re-arrange tenant mix at lower mall.