SPB advises Mitiska Reim on retail park acquisition in Córdoba
Squire Patton Boggs has advised the Belgian fund Mitiska Reim on the sale and purchase of the land, financing, development, promotion and commercialisation of “Los Patios de Azahara” retail park in Córdoba
Mitiska Reim is a privately held specialist real estate investment and fund advisory firm headquartered in Brussels, Belgium that focuses exclusively on the niche of peripheral retail properties in Europe, both retail parks and convenience centres.
This new retail park, opened in the Andalusian city of Córdoba on June 30, is the first major retail asset to open to the public this year and in the current post-pandemic situation, which will generate between 200 and 250 jobs in the city of Córdoba. It includes eight shops spread over 10,260 square metres of leasable space, located next to the Palma del Río road.
This is the first venture of the company Mitska Reim in Spain and it does so in Cordoba with the incorporation of large firms such as MediaMarkt (technology), Jysk (terrace and garden furniture), Kiwoko (pet products shop) Sprinter (clothing and sports equipment), Èggo Kitchen (specialists in German kitchens), Zappas (Oteros Group), MaxColchón or Sakito Home (household ítems).
The new shopping centre is structured around two buildings with large garden areas and a car park. Its unique architecture, accessibility and landscaped areas are designed to provide a very pleasant viewing experience for the enjoyment of the people of Cordoba, who will not only be able to enjoy the shopping centre, but also to enjoy the shopping experience.
The company arrived on the Iberian Peninsula at the end of 2016 with the purchase of the Portal del Mediterráneo retail park in Vinaroz (Castellón) and currently operates seven retail parks and is currently developing in Portugal.
The team advising Mitiska was led by Squire Patton Boggs Madrid office Real Estate partner Ramón Castilla (pictured left), with the participation of all members of the Real Estate team and the Tax team, led by partner José Aguilar-Shea (pictured right).
