SICD, owners of Mediterráneo Retail Park in Cartagena, have acquired Mandarache Retail Park, also in Cartagena, from Perella Weinberg Capital Partners. The buyer was co-advised by international real estate advisor Savills and Lyc Consultores.

Mandarache, which opened in 2006, comprises 26,976 sqm (290,367 sq ft) of retail space and 1,200 parking spaces.  Located on Spain’s south eastern coast, the asset formed part of a Royal Bank of Scotland debt package totalling approximately €300m which Perella Weinberg Capital Partners acquired at the beginning of 2011.

Luis Espadas, Director of Capital Markets at Savills Spain, says: “The purchase of Mandarache Retail Park is a strategic acquisition due to its location in Cartagena city centre.”