SiGLA has carried out the Due Diligence on the occasion of its purchase and sale

El Mirador, Las Terrazas and Caudalia, three Shopping Centers successfully transferred.

The process of research and collection of information, Due Diligence, on a real estate asset is essential so that the potential buyer or investor can determine the value and risks of an operation.

SiGLA, Servicios e Inversiones en GLA, S.L., has been providing this service to its clients based on the experience accumulated in the promotion and development of commercial real estate assets.

This service has recently been implemented in three operations carried out between the end of 2018 and this year 2019. SiGLA has prepared the three Due Diligence reports on the El Mirador and Caudalia shopping centers, in Gran Canaria and Asturias, and the Las Terrazas outlet park. on the same Canary Island.

The first of them, carried out at the end of 2018, refers to the El Mirador Shopping Center, in the municipality of Las Palmas de Gran Canaria, a covered shopping center that has required exhaustive Due Diligence given the dimensions of this asset: a giant of 90,000m2 of GLA plus 11,000m2 of hypermarket, equipped with four parking lots with capacity for 4,000 vehicles.

Opened in November 2010, it is part of the Parque Marítimo Jinamar commercial complex and is located to the south of the municipality next to the GC-1 highway.

All the brands of the Inditex group operate in this Shopping Center with ZARA at the head, followed by Pull&Bear, Berska, Stradivarius, Oysho,… in addition to Mango, New Yorker, H&M, Cortefiel, and thus a total of 124 stores between fashion, leisure , sports, restaurants, services and food, with an Eroski hypermarket.

El Mirador has been followed by the Las Terrazas Commercial Park, in Telde, a municipality adjacent to Las Palmas de Gran Canaria and the fourth most populated town in the archipelago.

Las Terrazas was inaugurated in 2008 as part of the Jinamar Maritime Park Complex, and was designed as an open-air center for the Outlet format, which includes an open-air theater with capacity for 500 spectators.

Las Terrazas has a Mercadona supermarket, a MediaMarkt establishment, and up to 120 stores of the most prominent brands in fashion, accessories, sports, decoration, perfumery, optics, telephony and services, such as Levi’s, Lacoste, 5th Avenue, Merkal, Nike , Asics, El Corte Inglés opportunities, Multiópticas, Movistar, Vodafone, Orange, Yoigo or Norauto. In addition, it includes a restaurant area with 22 establishments from the main operators in the sector. A total of 60,000m2 of GLA with 3,000 parking spaces.

Finally, the Due Diligence of the Caudalia Shopping Center concluded last October. Caudalia is the retail benchmark in the El Caudal basin, Asturias. Focused on Mieres, the regional capital, this center was inaugurated in September 2006 to serve three councils of the principality with a total of 61,300 inhabitants.

Due Diligence is not a typical audit, it requires an in-depth investigation of the economic and financial reality of a real estate asset, but it also carries out an analysis of the various business areas, discovers hidden liabilities, identifies synergies and evaluates commercial strategies and market trends, operational loads of a labor, technological or procedural nature that give or subtract value to the asset by putting its productive capacities on the table.

That is why Services and Investments in GLA, SiGLA, manages to carry out Due Diligences for its clients, not only issue a diagnosis of the company examined, but also advise on the appropriate movements, changes and improvements to be implemented to accelerate growth. economic and productive of the asset, and with it, the return on investment.