Dentons advises Helios RE SOCIMI on €254 million sale of Megapark to NEPI Rockcastle

Madrid-Global law firm Dentons has advised Helios RE SOCIMI, S.A. on the €254 million sale of Megapark, a retail and leisure complex in Barakaldo, near Bilbao, to NEPI Rockcastle. The deal represents NEPI Rockcastle's first investment in Spain and its first outside Central and Eastern Europe.

Megapark is the largest retail destination in the Basque Country by gross lettable area, with 81,000 sq.m. split between a retail park, a fashion outlet and a leisure and food and beverage center. Located on the A-8 motorway, it serves the Bilbao metropolitan area and draws visitors from across the Cantabrian coast.

The sale was structured as an asset deal and involved several additional workstreams, including merger clearance from the Spanish National Markets and Competition Commission, the transfer of surface rights over publicly owned land, which required authorization from Barakaldo City Council, and the waiver of a third-party right of first refusal. Dentons prepared the vendor due diligence report and advised on the drafting and negotiation of the transaction documents.

Madrid-based Real Estate partner Roberto Tojo led the team on the deal, with support from associates Pablo Vacas and María Hernández.

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