Real Estate is buying a Spanish retail asset for 鈧�232m.
and Grupo Lar announced they had sold the Islazul shopping centre in Madrid, without naming the buyer.
Local Spanish press reported that TH Real Estate was the buyer.
The company declined to comment.
Ivanho茅 and Lar, according to the former鈥檚 executive vice-president for Europe, Meka Brunel, sold the 90,000sqm building to 鈥渇ree up capital鈥�.
鈥淭his transaction is one more step forward in the execution of our business plan, which calls for, among other things, the repositioning of our European portfolio,鈥� Brunel said.
鈥淭he freed-up capital will be recycled into strategic assets and products in Europe.鈥�
Ivanho茅 Cambridge, a subsidiary of the Caisse de d茅p么t et placement du Qu茅bec, sold a Canadian property portfolio for CAD1.53bn (鈧�1.03bn) as part of a move away from direct ownership of commercial real estate.
As part of the deal, the company becomes the largest unit holder in Cominar, acquiring CAD250m in new units and for a 8.5% stake.
TH Real Estate said it was buying a 50% interest in a Sydney office property for AUD300m (鈧�209m).
The investor said it was buying the stake in 101 Miller Street, including Greenwood Plaza, a connecting retail complex.
