Barings sells Spanish shopping centre for €108m

Real estate investment manager Barings has sold the Berceo shopping centre in Spain to Castellana Properties for €108 mln. 

Berceo Shopping Centre

The Berceo centre is a leading retail destination in La Rioja, being the only major retail destination within a 100 km radius. Featuring major retailers like Zara, Carrefour, Primark and Mediamarkt, it attracted 6.3 million visitors in 2025.
Castellana Properties now owns 100% of Barings' interest in the 34,416 m2 complex.
José Carlos Torres, managing director and country head Iberia at Barings Real Estate, said: “Thanks to Barings’ active asset management, Berceo has been constantly an overperforming asset within our portfolio. Since its acquisition in 2016, income, occupancy, tenant mix and footfall have been consistently enhanced. This sale reinforces our commitment to disciplined capital rotation while creating sustainable value for our investors in Spain. After a record year for the platform in Iberia, with €310 mln transacted, our prime sectors for acquisitions in Spain in 2026 are mainly in the living spectrum, from core to value add, but we are also open to logistics, offices and retail opportunities”
Gunther Deutsch, managing director and head of European Transactions at Barings Real Estate, added: “Barings remains active in both acquisitions and disposals of core to value add real estate in its priority European markets of Iberia, France, Italy, Germany, the Netherlands, the UK and the Nordics. Retail in the right locations with value creation opportunity continues to be an attractive theme for us.  We remain selectively acquisitive in the retail sector – alongside our preferred sectors of living and logistics.”