Doughty Hanson & Co Real Estate has purchased two shopping centres in Spain from Sonae Sierra for €120 million. The acquisition comprises the 31,000-square-metre Plaza Eboli in Pinto, as well as El Rosal, a 50,000-square-metre shopping centre in Ponferrada.

“Despite the challenges that the Spanish economy faces, we are impressed with the location and quality of both of these assets,” says Juan Barba, the Madrid-based principal who led the acquisitions for Doughty Hanson. “We will draw upon our considerable experience as an opportunistic investor in the retail sector to generate value for our investors and the local communities in which these shopping centres are located.”