Ares acquires retail parks from Castellana for €279M: advisors

Ares Real Estate funds have acquired, through a share deal, nine retail parks from Castellana Properties Socimi for €279 million. The portfolio comprises a total gross lettable area (GLA) of 174,305 square metres. Linklaters advised the buyer on the legal aspects of the transaction, alongside EY as financial adviser and Deloitte as tax adviser. Ashurst acted for Castellana Properties.

The portfolio includes Parque Principado (Asturias), Granaita and Motril (Granada), Parque Oeste (Madrid), La Heredad and La Serena (Badajoz), Ciudad del Transporte (Castellón), Marismas del Polvorín (Huelva) and Pinatar Park (Murcia).

On Ashurst’s side, the transaction was led by Pedro Ester (partner, corporate M&A), with the support of Ismael Fernández Antón (partner, real estate), Javier Hernández Galante (partner, tax), Tannia Rodríguez (counsel, corporate M&A), Beatriz Aizpún (associate, corporate M&A), María Antonia de Prada (senior associate, corporate M&A) and Carlos Campón (associate, tax).

Pictured, from left to right, Ismael Fernández Antón, Pedro Ester and Javier Hernández Galante.