Ashurst has advised Invesco Real Estate on the acquisition and lease back of Mango’s headquarters located in Palau Plegamans, Barcelona, consisting of five industrial premises, for €100 million.
The agreement contemplates that Mango will stay as a tenant of the complex for 30 years, while Invesco Real Estate will achieve a profitability of the asset that will be around 5 percent, according to sources familiar with the agreement and quoted by ‘El Confidencial’, an Spanish.
Mango registered sales worth 2,260 million euros in 2016. This was the year in which the fashion company founded by the Antik brothers went into losses (worth 61 million euros) for the first time in its history.
Ashurst has advised Invesco on the deal with a team led by Madrid-based partner Ismael Fernández Antón.
Involved fees earner: Ismael Fernández Antón – Ashurst;
Law Firms: Ashurst;
Clients: Invesco Real Estate;