background-Xanadú Shopping Centre

Xanadú Shopping Centre


Xanadú is a super prime shopping centre with a first-rate tenant line-up and extensive asset management potential. Future plans to further enhance the leisure element of the scheme cement its position as an asset that is well-positioned to deliver a robust income return.

— Marta Cladera de Codina, Head of Real Estate, Iberia

Located southwest of Madrid, Xanadú Shopping Centre totals 118,623 sq (c.1,276,847 sq ft) over two levels and features a prime retail line-up including Decathlon, Primark, H&M and the Inditex Group. As testament to the strength of the centre, Apple and Hollister chose Xanadú as the location for their first Spanish stores. In addition, AliExpress, the e-commerce portal, opened its first physical store in Europe at Xanadú. It also boasts a best-in-class leisure offer, including Snowzone, Southern Europe’s only indoor ski slope, as well as a cinema and bowling alley and the opening of an aquarium ("Atlantis") in 2018. In June 2019, a project started to comprehensively refurbish the centre's food court; the new gastronomy area will have views of the ski slope via a double-height glass façade. The property benefits from an external car park with 8,000 parking spaces. It has good accessibility to Madrid via the A-5 highway and 18 bus lines connecting the scheme to the Madrid city centre and surrounding municipalities.

Property images

Top View of Xanadu

Snow surfing at Xanadu

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The European properties listed are owned by European Cities Fund (ECF), in which Nuveen Global Cities REIT (REIT) has invested $75 million as of 30 June 2022. ECF has $1.8 billion in gross asset value as of 30 June 2022 excluding forward commitments. The REIT does not charge investors for management of this commitment. Investors indirectly pay the underlying management fee of ECF, on the amount of their commitment to the fund, which is lower than the REIT’s management fee. The REIT will not have direct control over ECF and therefore a part of the REIT’s performance will be affected by decisions made by ECF.

These properties represent select holdings at the time of publication and are not meant to represent the entire portfolio. The opinions expressed are reflective of the manager's views at the time of acquisition.