AEW Europe, one of the world’s largest real estate investment and asset managers [1], announces the acquisition of a 26,677 sqm urban retail park in Granada, Spain.
The asset is located within “Granaita Retail Park”, a major shopping destination in Granada, which offers c.105,000 sqm of retail space and is anchored by leading national and international operators including Carrefour, Decathlon, Kiabi, Kinepolis, Brico Depôt, Action and Mercadona. The acquired asset comprises five buildings offering a total of 26 units across two main areas, with an 18,657 sqm retail area comprising 10 units, including food and fashion retailers, and an 8,020 sqm mixed-use gallery area comprising 16 units, including leisure and fitness facilities. The scheme is nearly fully occupied by a diversified tenant mix, and benefits from more than 2,200 parking spaces.
Located on the northern edge of Granada, the asset benefits from direct access to the GR-30 ring road and is adjacent to the A-92, a highway connecting Granada with surrounding towns and key cities including Seville and Malaga. The city is a metropolitan centre and one of Spain’s leading tourism and university destinations, supporting a broad and diversified consumer base. The asset’s catchment is further supported by continued residential development in the surrounding area, including the growing Borde Norte district, where approximately 1,000 homes have been built or are under construction.
The gallery area has achieved BREEAM In-Use “Excellent” certification. Planned investments will further improve the asset’s environmental performance, including the installation of solar panels and additional EV chargers, rainwater harvesting, and sustainable landscaping.
Carsten Czarnetzki, Country Head Iberia at AEW Europe, commented: “This acquisition represents an opportunity to invest in a dominant and well-established retail destination in one of southern Spain’s key metropolitan markets. Granaita benefits from a strong retail offer, excellent connectivity and a broad catchment encompassing Granada and its surrounding municipalities, which continues to expand through new residential development adding further to the already strong catchment. AEW Europe’s established presence in Spain, combined with its local market knowledge, enables us to identify and pursue attractive opportunities such as this, including off-market transactions.”
Antoine Barbier, Head of AEW Patrimoine at AEW Europe, added: “This acquisition is well aligned with our strategy of investing in high-quality retail assets across several European countries. Our strategy aims to build a portfolio focused on retail assets, characterised by high occupancy, a diversified tenant base and a complementary mix of retail and leisure offerings, with the aim of generating attractive income. Planned improvements will also enable us to enhance the asset’s environmental performance and support its long-term value.”
For this transaction, AEW Europe was advised by Fabregat Perulles Sales, JLL, Zaga and DAIE. RPE, Cushman & Wakefield and Linklaters advised the seller.
Photo credit: ©Granaita.
About AEW
AEW is one of the world’s largest real estate asset managers [1], with €73.2 billion of assets under management as at 30 June 2026. AEW has over 815 employees globally, with its main offices located in Boston, London, Paris and Hong Kong and offers a wide range of real estate investment products including comingled funds, separate accounts and securities mandates across the full spectrum of investment strategies. AEW represents the real estate asset management platform of Natixis Investment Managers, one of the largest asset managers in the world.
As at 30 June 2026, AEW managed €34.8bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has over 500 employees based in 11 offices across Europe and has a long track record of successfully implementing Core, Value-Add and Opportunistic investment strategies on behalf of its clients. In the last five years, AEW has invested and divested a total volume of over €13bn of real estate across European markets.
[1] Source: 2025 IRE.IQ Real Estate Managers Guide”. The Guide, published annually by Institutional Real Estate, Inc., ranks real estate managers based on the gross value of real estate AUM ($m) as of December 31, 2024.
[2] The asset received BREEAM “Excellent” in November 2024. Mace Management Services, S.A. is the third party that tabulated the certification. An assessment fee was paid in connection with this certification by the seller prior to AEW acquiring the asset. Additional information on ESG practices is available upon request.