The Madrid-based European private equity real estate manager Azora has announced that it has acquired the Planetocio leisure centre, which is located in the Collado Villalba suburb of Madrid.
The acquisition is the first in the leisure segment that is showing very good growth prospects post-pandemic, for Azora’s new multi-strategy investment vehicle, Multi Strategy JV II.
Originally constructed in 2001, the 21,000sq m Planetocio leisure centre is 95 per cent occupied with an 80 per cent focus towards leisure and entertainment comprising a diverse range of leading companies in the sector including Yelmo Cines and Media Markt, as well as several restaurant chains such as McDonald’s and Ginos. The centre recovered quickly from the challenges of the pandemic, outperforming its competitors thanks to its large leisure offer, with steady growth in both footfall and sales which have increased 5.8 per cent and 9 per cent, this year respectively compared to 2022.
Azora is planning a significant improvement and asset management plan for the centre, investing in renovating its facilities with the aim of transforming it into the best family leisure experience in its catchment area.
