- Lighthouse Properties has acquired Espai Girons Mall in Girona, Spain, for 168.2 million 183.8 million through its subsidiary, Girona Retail Property S.L.U.
- The mall offers 40,341 square meters of retail space with key tenants like Primark and Zara, enhancing Lighthouse's focus on dominant retail centers.
- With this acquisition, 76 of Lighthouse Properties' assets are now based in the Iberian Peninsula, boosting its portfolio across Europe's resilient economies.
Lighthouse Properties, a real estate firm based in Malta and led by South African businessman Barry Stuhler, has expanded its presence in Europe by acquiring Espai Girons Mall in Girona, Spain. The 168.2-million 183.8 million deal was finalized through the company's Spanish subsidiary, Girona Retail Property S.L.U., marking a strategic step in the firm's growth.
The mall was purchased from Commerz Real Investment GmbH, which manages the German real estate fund hausInvest. With a net initial yield of 7.2 percent based on projected net operating income starting in January 2025, the acquisition aligns with Lighthouses strategy of focusing on retail assets in economically resilient areas.
Boosting retail assets across the Iberian PeninsulaEspai Girons, located near the AP-7 motorway linking France and Barcelona, offers 40,341 square meters of retail space. Its key tenants include global brands like Primark, Zara, JD Sports, Bershka, and FNAC. A 5,000-square-meter Alcampo Hypermarket, opened earlier in 2024, has already increased foot traffic and sales, underscoring the malls appeal to shoppers.
The acquisition strengthens Lighthouses strategy of targeting dominant retail centers in Europes robust economies. With this deal, the Iberian Peninsula now makes up 76 percent of the value of the firms directly owned assets, positioning the company to benefit from ongoing retail consolidation trends across Europe.
Barry Stuhler leads global real estate pushUnder Barry Stuhler, Lighthouse Properties has grown into a key player in the global real estate market. Founded as Lighthouse Capital and rebranded in 2021 to reflect a new strategic direction, the firm manages a portfolio spanning France, Portugal, Slovenia, Spain, and the UK. Stuhler holds a 6.37-percent stake in the company, amounting to more than 102 million shares.
