Alabama-based alternative asset manager Harbert Management Corporation (HMC) has announced that its European Real Estate Fund II has entered into a joint venture with Doric Malaga to develop a 17,000m[sup]2[/sup] retail warehouse in the Spanish city of Malaga. airport. The project, which is scheduled to open in late 2009, is located adjacent to a recently opened IKEA, and is also next to the pre-let 20,000m[sup]2[/sup] shopping mall extension to the established Plaza Major retail and leisure centre.
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