Lar España sells two retail parks in Madrid and Alicante for 129 million euros to AEW

The socimi Lar España has sold to the real estate platform AEW the commercial parks Rivas Futura, in Madrid, and Vistahermosa, in Alicante, for a total of 129.1 million euros. The Rivas Futura retail park, in the Madrid town of Rivas Vaciamadrid, was acquired by Lar España in February 2018 for 61.6 million euros and has a gross leasable area of 36,447 square meters.For its part, the Vistahermosa retail park in Alicante was acquired by Lar España in June 2016 for 42.5 million euros and has 33,763 square meters of leasable area.Thus, the total price of the transaction, which was formalized today, amounted to 129.1 million euros, representing a capital gain of 24% over the acquisition price.