South African Property Fund Expands with €135 Million Spanish Shopping Centre
Cartagena, woensdag, 2 juli 2025.
Lighthouse Properties, a South African property investment fund, has made a strategic acquisition by purchasing the Espacio Mediterráneo shopping centre in Cartagena for €135.4 million. The 36,984 m² complex, built in 2007, houses leading brands such as Zara, Bershka, Primark, and JD Sports. With this purchase, Lighthouse expands its Iberian property portfolio, which now comprises 86% of its direct property portfolio. The transaction reflects a gross yield of approximately 7% and aligns with the fund’s growth strategy of acquiring dominant retail assets in economically resilient urban areas.
Strategic Acquisition in the Iberian Property Landscape
Lighthouse Properties acquired the Espacio Mediterráneo shopping centre in Cartagena last Thursday for €135.4 million. The complex, built in 2007, covers an area of 36,984 m² and hosts renowned brands such as Zara, Bershka, Primark, and JD Sports [1][2][3].
Portfolio Composition and Yield Profile
With this acquisition, Lighthouse increases its Iberian property portfolio to 86 percent of its total direct property portfolio. The transaction reflects a gross yield of approximately 7% before transaction costs, in line with the fund’s strategy of acquiring dominant retail assets in economically resilient urban areas [2][4].
Financial Projections
Lighthouse expects revenues of €6.65 million for the second half of 2025 and an estimated revenue of €13.52 million for the entire year 2026 from this shopping centre. The net profit after taxes is projected at €5.88 million for 2026 [5].