Orion sells Plenilunio - one of Spain’s major prime shopping centres - for €375M - Cushman & Wakefield

Orion sells Plenilunio - one of Spain’s major prime shopping centres - for €375M

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  • Orion Capital Managers have finally agreed to sell the centre to French Reit Klepierre
  • Plenilunio, one of the best shopping centres in Madrid, has over 70.000m2 GLA distributed over three floors incorporating a significant element dedicated to fashion as well as a strong leisure and restaurant area, a high quality gym and an electrical goods store.
  • Cushman & Wakefield advised the seller 
Investment Fund Orion Capital Managers have agreed to sell Plenilunio, one the major prime shopping centres in Madrid, to French Company Klépierre. Opened in 2006, the centre is strategically located in the east of Madrid with no competition. The current footfall is 10.5 million and continues to grow.

Cushman & Wakefield, the largest privately owned property consultant in the world, advised the Vendor, Orion Capital Managers.

Partner, Head of Capital Markets Retail in C&W, Rupert Lea commented, “Plenilunio is the major Shopping Centre for all retailers looking to locate and benefit from the east of Madrid. Despite the crisis it has always had strong demand. I believe that this is the last major Shopping Centre to sell in Madrid for the next 10 years. The price achieved is yet another indication of the new market trend: strong demand and lack of prime product.”

Plenilunio is home for main national and international brands, such as the largest Primark store in a Shopping Centre in Spain, a major H&M store, Inditex Group with all its stores, a new Mango to open soon, and a Media Markt. Other anchor tenants are Mercadona, one of their strongest supermarkets in Spain and Yelmo cinema, one of the top three best performing cinemas in the east of Madrid.

The innovative design of Plenilunio also earned it the award for Best Shopping Centre in the World in 2007 by the ICSC, International Council of Shopping Centres.

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