Eversheds Sutherland Advises on Ballonti Shopping Centre Sale

Eversheds Sutherland has facilitated a significant real estate transaction involving the sale of the Ballonti Shopping Centre, located in Portugalete, Bizkaia. Bilball Centre Investments and Ballon Investments sold the property to Rivoli Asset Management for approximately €120 million. The sale featured clients from Banco Santander Private Wealth as investors and involved advisory services from CBRE, Garrigues, Arcadis, and GMD. Ballonti Shopping Centre, which opened in 2008, spans a gross leasable area of 53,000 square meters and plays a key role in the Basque retail sector with high visitation and occupancy rates. The acquisition is part of Rivoli's expansion strategy in the Spanish market, marking a continuation of their active involvement in significant property deals, such as the recent acquisitions of Moraleja Green and 50% of intu Xanad. The legal team managing the transaction consisted of Eversheds Sutherland's top real estate professionals, led by Rafael Arraez Amselem.