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Realia sells Seville mall to Warburg-Henderson at 7.6%
Quoted Spanish property developer and manager Realia has sold, for e94m, its ownership stake in Nervión Plaza, a shopping centre in the centre of Seville, capital of the southern Spanish province of Andalucia, to Henderson Global Investors on behalf of Hamburg-based fund manager Warburg-Henderson. The deal was done at an initial yield of 7.6%. " "We have exploited the strong price declines in the Spanish property market to make an anti-cyclical investment," said Warburg-Henderson MD Eitel Coridass. (See upcoming PIE/PFE editions for full story)