The investment company L Catterton continues to expand its portfolio to real estate activates. The international private equity company, which leads, among other things, the participation and real estate shops of the LVMH owner family Arnault, acquires a minority stake at the Los Fresnos shopping center in Gijón Spain.
It remains to be seen whether the transaction is a one -time acquisition or whether society is pursuing further plans with the property. L Catterton has acquired around 24.22 percent of the total rentable area of the Los Fresnos shopping center in Gijón, Asturia. According to El Periódico, the purchase was made by the acquisition of 30 of the 34 commercial space of the center, which had previously been owned by the US investment fund ARES Management Corporation and the Dutch real estate investment fund Redevco. Redevco belongs to the Cofra Holding of the Brenninkmeijer family, founder: inside of the fashion chain C&A. The purchase price was not announced.
As the news medium mentioned further reports, the acquisition was carried out by the acquisition of the companies, through which Ares and Redevco held the 30 commercial space – and not through a direct purchase of the real estate activa of the shopping center. Carrefour Property, the real estate management company of the Carrefour Group, remains with a share of 67 percent majority owner of the shopping center, while the remaining 8.8 percent of various minority investors: inside. L Catterton now holds around 24.22 percent of the total rentable area.
Strategic importance of the investment
As for the potentially strategic character of the transaction at the national level, the private equity society strengthens its position in Spain with this step. The most important direct investment by L Catterton in the country is the acquisition of 80 percent of the Burgerkette Goiko 2018. At that time, an estimated amount of 120 million euros was invested.
In addition, with this acquisition, L Catterton continues to expand its investments in Spanish retail. As early as July 2024, the company took over 42 percent of British Value Retail. The transaction was around £ 1.5 billion (around 1.75 billion euros). This made L Catterton the greatest minority shareholder of Value Retail, the owner and operator of twelve shopping centers under the “Villages” concept in various cities in Europe and the USA – including La Roca Village in Barcelona and Las Rozas Village in Madrid.
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