British Land set to invest EUR 350m in Spain

British Land and the closed-end fund Pillar Retail Europark Fund (PREF) have formed a joint venture to acquire Nueva Condomina, a regional shopping centre and retail park in Murcia, southeastern Spain for around EUR 350 mln. The newly developed site is owned by Deparcom, a joint venture between Eroski and Grupo Trusam. Property consultant Cushman Wakefield advised British Land and PREF.

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