Uría Menéndez and Dentons on €254m Megapark sale
Uría Menéndez has advised Nepi Rockcastle on the acquisition of Megapark, a retail and leisure complex located in Barakaldo, near Bilbao. On this transaction, Dentons has advised Helios RE, a Spanish listed REIT (SOCIMI), the seller.
Megapark is the largest retail destination in the Basque Country by gross lettable area, spanning around 81,000 square metres split between a retail park, a fashion outlet and a leisure and food and beverage centre. Positioned on the A-8 motorway, the complex serves the Bilbao metropolitan area and attracts visitors from across the Cantabrian coast.
The transaction was structured as an asset deal and required several additional workstreams. These included obtaining merger clearance from the Spanish competition authority (CNMC), securing the transfer of surface rights over publicly owned land—which needed authorisation from Barakaldo City Council—and arranging the waiver of a third-party right of first refusal. .
The deal represents Nepi Rockcastle’s first investment in Spain and its first outside Central and Eastern Europe.
Legal team
On Uría Menéndez’s side, the advisors team was composed, among others, by partner Fernando Azofra, managing associate Rafael Castillo and counsel Adrià Riba.
The Dentons team was led by real estate partner Roberto Tojo, with support from associates Pablo Vacas and María Hernández.
