Global law firm White & Case LLP has advised Klépierre, a leading European pure play shopping centre property company, on its acquisition of Spanish shopping centre Nueva Condomina for €233 million.
Klépierre purchased 100 percent of the shares in the Spanish entity that directly owns Nueva Condomina from a subsidiary of BNP Paribas Fortis, and financed the acquisition through available credit lines.
Covering approximately 110,000 square meters, Nueva Condomina is a leading shopping centre in the Murcia region of Spain, and attracted nearly 11 million visitors to its 178 shops during 2016. Following this acquisition, Nueva Condomina becomes the third largest asset in Klépierre's Spanish portfolio in terms of net rental income.
The White & Case team which advised on the transaction was led by partner Brice Engel (Paris) and local partner Carlos Daroca (Madrid), with support from associates Alann Le Guillou (Paris), Esteban de Santos and Pedro Hendel (both Madrid). Counsel Orion Berg (Paris) advised on competition aspects.
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