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Murias Grupo Empresarial and its financial partner, the investment fund Oak Hill Advisors, have acquired Parque Almenara Shopping Center, located in Lorca, Murcia.

The complex has more than 67.000m2 of "SBA" of which 55.000m2 have been the subject of the transaction -, distributed in a park of medians and a commercial center that has more than 160 commercial premises.

Parque Almenara is the commercial center of reference in the region of Lorca, covering the needs of more than 200,000 residents in its area of ​​influence, with a complete and varied commercial offer that includes multinational groups leading in the sectors of fashion, such as Inditex Group - present in the center through its labels of Zara, Massimo Dutti, Oysho and Lefties -, H & M and Cortefiel;

the electronics (Media Markt), the home (Home);

and food (Carrefour).

The center also has an attractive leisure offer with numerous restaurants (Foster "â„¢ s Hollywood, Taberna Real, Latinos), a bowling alley, and a multiplex venue.

The opening of the Carrefour hypermarket in early 2017, together with the incorporation of Lefties and the enlargement of the premises of Stradivarius, have contributed to the revitalization of the center which has seen increases of more than 10.90% in what we carry year.

The new owners of Parque Almenara have developed a business plan aimed at repositioning and relaunching the shopping center.

For this, they have planned to invest between 5 and 10 million euros, aimed at updating and improving the shopping center (upgrading facades, improving lighting and labeling | |) and attract the best commercial and leisure brands.

The park is one of the priority upgrades of the new owners, where they intend to complement the current offer focused on home and electronics, with large players in the sports and DIY sector.

LyC Consultores (www.lyc-consultorres.com) will be responsible for the implementation of the business plan, for which it will assume the management and commercialization of shopping center spaces.

LyC Consultores has more than 25 years of experience in the sector and with a management portfolio of 11 shopping centers in Spain.

Murias and Oak Hill have had the advice of LyC Consultores in the commercial area and Cuatrecasas in the legal area.

Cushman & Wakefield has been the entity in charge of advising the selling party.

Paulino Barrenechea, Managing Director of Murias, said: "We are very pleased to be able to close an operation with our partner Oak Hill Advisors and bring our experience in the sector to improve asset positioning. We have designed an ambitious business plan that entails a important investment, and that we are convinced will allow us to offer a substantial improvement in the commercial offer and quality of services to benefit the residents of Lorca. "

For Musa Sönmez, Managing Director of Oak Hill Advisors and Gonzalo Gonzalez, Senior Advisor of Oak Hill Advisors, "this operation is part of Oak Hill Advisors' strategy to grow in the Spanish market through value creation hand of strategic partners of confidence and recognized prestige in the sector ".

Ignacio Cernuda, Director General of LyC stated that "we are very proud to incorporate Parque Almenara to our portfolio of Shopping Centers and very excited about the development of the Business Plan approved by the new owners."

About buyers:

Murias Grupo Empresarial has more than 20 years of experience in the sector of centers and commercial parks in Spain.

During these years it has developed 8 large projects (among them the Abadía Commercial Park, Txingudi Commercial Park, Getafe III, and Niessen Shopping Center) with a joint SBA of more than 300,000 m2.

Oak Hill Advisors is a global investment firm with more than $ 30 billion of managed equity capital, with a flexible investment mandate focused on Europe and North America.

Oak Hill Advisors has more than 25 years of experience investing in a diverse asset typology including corporate loans and direct investment in assets in the real estate, aviation and maritime sectors, as well as investments in private equity.

Oak Hill Advisors has been investing in Spain since the opening of its European office in 2005. The fund's current investment portfolio in our country includes more than 300 million euros in corporate loans and investments in assets and businesses in the real estate and of infrastructures.

Source: Agencias