Transitions Europe expands Spanish portfolio

Transitions Europe SCPI, managed by Arkéa REIM, has bolstered its presence in Spain with the acquisition of two retail centres and its inaugural logistics asset in the country. 

Arkea REIM logistics Spain

Transitions Europe has acquired the Las Huertas shopping mall in Palencia and the Txingudi shopping mall in Irun, collectively adding approximately 17,000 m² of prime retail space to its portfolio.
The Txingudi shopping mall, strategically located just 7 km from the French border, boasts a significant cross-border clientele, accounting for nearly 50% of its visitors. Anchored by an Alcampo hypermarket, it benefits from a dynamic commercial area.
Las Huertas, the main shopping centre in Palencia, is anchored by a Carrefour hypermarket and serves a catchment area of over 110,000 residents within a 30-minute radius.
Both properties house a diverse mix of 63 leading retailers, including international brands like H&M, Kiabi, JD Sports, Mango, Sprinter, Pepco, Douglas, and KFC. Their balanced offering across fashion, beauty, sports, restaurants, and services contributes to their appeal and resilience. Notably, both centres underwent major renovations in 2016 and 2017 and hold BREEAM Good certification.
Transitions Europe has also acquired a logistics asset spanning over 34,150 m² in Getafe, south of Madrid.
Located in one of Spain's largest distribution centres, the warehouse is fully leased to major Spanish supermarket chain DIA, with a remaining lease term of 4.2 years. This strategic site has been a crucial hub for DIA for over 37 years, supplying nearly 300 stores across central Spain. The Getafe asset was renovated in 2024, achieving BREEAM "Excellent" certification and incorporating photovoltaic installations.
Abdelkader Guennioui, director of Fund Management at Arkéa REIM, commented on the acquisitions: "With Txingudi and Las Huertas, we are adding two strategically located assets to the portfolio that guarantee sustainable income and strengthen Transitions Europe's resilience. Additionally, our first logistics operation in Spain strengthens Transitions Europe's diversification, combining rental strength, a strategic location, and long-term value potential, to the benefit of our investors."
Arkéa REIM received advisory support for these transactions from Resource Capital Partners, PLL, Albion for the technical audit on the retail assets, and Catella Asset Management Ibéria, Pérez-Llorca, Cushman & Wakefield, and Top Management for the technical audit on the logistics asset.