PORTFOLIO: IBERIA FUND I
Classic retail value add opportunity in greater Madrid area
The fund has acquired the 21,600 sm retail gallery attached to the Alcampo hypermarket in Torrelodones, an affluent commuter town located 25 km northwest of central Madrid. The retail gallery has 83 units with a neighborhood/convenience retail offering.
ASG’s strategy is to modify the mix of food & beverage, leisure and retail tenants to further enhance the family-friendly environment. While the hypermarket itself is not included in the fund’s investment, it acts as a magnet for footfall from the surrounding catchment area. Espacio Torrelodones is an under-performing asset that presents excellent turnaround opportunities.