Clifford Chance Advises on Bonaire Shopping Centre Sale
Deal News | Mar 19, 2025 | Iberian Lawyer
Clifford Chance has successfully advised Unibail-Rodamco-Westfield on the sale of the Bonaire shopping centre in Valencia for EUR 305 million. The transaction was conducted with Castellana Properties, a Spain-based Real Estate Investment Trust (REIT) and a subsidiary of Vukile Property Fund. This sale was delayed due to flooding in Valencia in October 2024, but was completed once the shopping centre operations resumed. The legal team from Clifford Chance was led by partner Carlos Portocarrero, with support from associate Itziar Kraus and trainee Paula Abad, all from the firm's Real Estate department.
Sectors
- Real Estate
- Legal Services
Geography
- Spain – The transaction involves the sale of a shopping centre located in Valencia, Spain.
- South Africa – Vukile Property Fund, the parent company of Castellana Properties, is based in South Africa.
Industry
- Real Estate – The article is centered on a significant real estate transaction involving the sale of a shopping centre.
- Legal Services – Clifford Chance, a prominent law firm, provided legal advisory services for the transaction.
Financials
- 305000000 – The sale price of the Bonaire shopping centre in euros.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Unibail-Rodamco-Westfield | Selling Company | Company | A major commercial real estate company that owns the Bonaire shopping centre. |
| Castellana Properties | Bidding Company | Company | A Spain-based Real Estate Investment Trust (REIT) involved in acquiring the shopping centre. |
| Vukile Property Fund | Parent Company | Company | A South African-based property fund and parent company of Castellana Properties. |
| Clifford Chance | Legal Advisor | Company | A leading international law firm providing legal advisory services for the transaction. |
| Carlos Portocarrero | Lead Partner | Person | Partner at Clifford Chance leading the legal team advising on the sale. |
| Itziar Kraus | Associate | Person | Associate at Clifford Chance assisting in the transaction. |
| Paula Abad | Trainee | Person | Trainee at Clifford Chance involved in the transaction. |