PORTFOLIO: IBERIA FUND I
Dominant shopping center with upside potential through active asset management
Ruta de Plata is the only shopping center in Cáceres, the historic city in Southwest Spain, and has a dominant position in the province. The property consists of an 8,300 sm retail gallery adjoining a separately owned hypermarket. High street fashion brands, including Pull & Bear, Stradivarius and Bershka, occupy the gallery’s retail units and vacancy is low. The center opened in 1993 and requires renovation and upgrading works.
Targeted capex and a range of asset management initiatives will allow ASG to add tremendous value to Ruta de Plata, an asset with a dominant position in Cáceres province and into the wider Extremadura region.