Santander and Merlin are evaluating the purchase of a 1.6 billion euro shopping center portfolio owned by the Balkany family, attracting attention from various financial entities.
The Spanish bank Santander and real estate firm Merlin Properties are reportedly considering the acquisition of a shopping center portfolio worth 1.6 billion euros belonging to the Balkany family. This portfolio includes nine assets located in Spain, and despite the high asking price, interest is growing in the transaction. Various real estate sources note that other companies, like Klépierre, Orion, Nepi, Norges Bank, and Six Street, are also exploring this opportunity, which was first reported in December by CincoDías.
In addition to Santander and Merlin, Bankinter has also shown initial interest in the transaction, according to market insiders. However, financial sources suggest that Bankinter may have ruled out submitting a bid. The involvement of multiple significant players in this potential acquisition underscores the significance of the Balkany shopping centers in the current real estate landscape in Spain, indicating a robust interest in retail investments amidst evolving market conditions.
The family Balkany has engaged financial giants Morgan Stanley and BNP Paribas to facilitate this sale, indicating their intention to maximize the portfolio's value. As the market for commercial real estate continues to fluctuate, this potential deal could have broad implications not just for the involved parties but also for the overall retail sector in Spain, potentially influencing future investments and developments in the region.
