Lar España acquires Portal de la Marina shopping centre

Lar España Real Estate Socimi has acquired 41% of the shares of Puerta Marítima Ondara, owner of Portal de la Marina shopping centre in Ondara in Alicante. Lar España had acquired a 59% stake of Puerta Marítima Ondara in October 2014 and the hypermarket in June 2015, so it controls now the whole of Portal de la Marina shopping centre, with a total value of €94.5 million. The acquisition of the remaining 41.22% was approved by the Extraordinary General Shareholders' meeting held last December. 

Sales in Portal de la Marina grew by 13% in 2015 compared to 2014, and the number of visitors totaled 3.76 million, for an increase of 6%. 

Portal de la Marina has around 40,000 square meters of lettable area distributed in 120 stores in two floors. Its commercial and leisure offer, with brands, such as Cortefiel, H&M, Mango, C&A, Tien21 and eight brands of Inditex Group, along with eight cinema screens and 1,600 parking spaces makes Portal de la Marina a reference in the region. It is a dominant centre in its catchment area, with more than 200,000 people, and has a great visibility and access, close to the AP7 motorway, by the city of Ondara in Alicante.                        


Source: Property Magazine