March 2007: Parques Reunidos, the international leisure group headquartered in Madrid, Spain, agrees to buy Warner Park in a joint venture with real estate company, FADESA. The purchase price for the park will be approximately € 60 million.
Warner Park and its associated land bank was acquired by FADESA, in early 2007. FADESA simultaneously agreed a long term lease agreement for the park with Parques Reunidos, including a right to buy the park outright in 2016. In the meantime, the park will be fully integrated into Parques Reunidos’s existing Spanish leisure park portfolio, reinforcing the Company’s dominant position in Madrid.
SOCIOS advises Parques Reunidos on the transaction execution.