Madrid, April 03, 2025 – EQUILIS has announced the sale of Nexum Retail Park in Fuenlabrada, Madrid, to Irish Life Investment Managers (ILIM) and ABERDEEN Investments in a transaction advised by Savills.
This transaction represents a strategic move for both parties – reinforcing EQUILIS’ commitment to sustainable and innovative retail developments while supporting ABERDEEN’s expansion in the next-generation retail park segment. The acquisition marks the 7th investment made for ILIM’s pan European multi sector property strategy, and reflects the diversification benefits of investing in the Retail segment.
For EQUILIS, Nexum is the second retail project in Spain following the success of the Finestrelles Shopping Centre in Barcelona. The sale of this asset underscores the attractiveness of a retail park designed to redefine consumer expectations, combining sustainability, innovation, and experience-driven retail.
Nexum Retail Park has a Gross Leasable Area (GLA) of 23.000 m². The site comprises a variety of retail and leisure operators, as well as a hotel, and generates approximately 350 direct jobs.
The retail park attracts 2 million visitors per year and is located in a prime area of Fuenlabrada, one of the most densely populated municipalities in the Madrid metropolitan region. Its offer includes leading brands such as Supeco, Media Markt, Kiwoko, Pepco, Viva Gym, Norauto, McDonald’s and Jysk.
Furthermore, Nexum houses the largest solar community in the country, with 1.350 solar panels placed on three of its rooftops, which will supply 100% renewable energy to up to 1.100 nearby homes without personal installation costs. Commitment to sustainability is one of the hallmarks of Nexum, providing 26 electric vehicle stations, including 10 ultra-fast charging points, eco-friendly building materials such as pre-cast concrete, and extensive landscaping with 200 local trees. The entire project has been certified with a Breeam ‘Very Good’ rating.
With this transaction, Aberdeen strengthens its presence in the Spanish real estate market, focusing on innovative and sustainable assets, while Equilis continues its expansion with new developments in Europe. Aberdeen Investments’ commitment to the real estate sector began fifty years ago, and we have established ourselves in this market as a seasoned player and partner of choice for investors, like Irish Life Investment Managers.
Paul Baragwanath, Senior Fund Manager at Irish Life Investment Managers, stated about the transaction: “We are delighted with the acquisition of Nexum which is an excellent fit for ILIM’s Pan-European real estate strategy. We are actively looking to deploy more capital across sectors and key gateway cities in Europe.”
Etienne Allepuz, Transaction Manager at ABERDEEN, stated about the transaction: “We are delighted to announce the acquisition of Nexum for ILIM’s European strategy. This project is in a prime location, with a strong catchment area in one of the most densely populated municipalities in the Madrid metropolitan area. In addition, it has a highly diversified tenant base, most of which is affordable, making this retail park accessible to a wide range of consumers. We are proud to highlight the high ESG component of this retail park, which has obtained BREEAM Very Good certification, reflecting our commitment to sustainability and responsible development’.”
Xavier Pierlet, Chief Investment Officer of EQUILIS Europe, commented: “We are very pleased with this transaction, which aligns with our strategy of creating high-value, sustainable retail destinations across Europe. It hosts Spain’s largest solar community, capable of powering up to 1,100 households. It positions Nexum as a forward-thinking retail park and we are delighted that ABERDEEN recognizes its long-term potential. We will pursue our development strategy in Spain in retail and residential”.
Salvador González, National Director of Retail Investment, Salvador González, emphasizes: “Nexum represents a new generation of retail parks, combining traditional uses such as food, pets or electronics with leisure, restaurants and other services. EQUILIS was able to carry out an innovative proposal, and ABERDEEN has taken advantage of a unique opportunity to acquire a newly created asset in Madrid, in a market where there are practically no assets of such characteristics.”
Pérez-Llorca has provided legal advice to the selling party, while on the buying side, Garrigues has acted as legal advisor, together with Arcadis as technical advisor and Knight Frank in the valuation of the asset.