LaSalle Investment Management has made its second acquisition in Europe in the past month on behalf of Encore+, with the purchase of a shopping center in Spain. The vendor is CBRE Global Investors which sold the property for under €60m. The Bilbondo shopping center is located in the Spanish city of Bilbao and was acquired by CBRE GI in 2010 from its anchor tenant, the supermarket Eroski. Encore+ is just the latest in a string of international companies to purchase Spanish retail assets in Spain over the last year, including US funds H.I.G. Capital and Kennedy Wilson. JLL and Hogan Lovells advised the Encore+ in this transaction.
