Spanish property firm Metrovacesa has reduced its development pipeline to just 12 projects from 19 at the beginning of the year as part of a programme to reduce its gearing. The company said it has halted development on three shopping centres located in the Spanish cities of Valdebebas-Madrid, Cieza-Murcia and Leon as well as on its Monteburgos office development in the Spanish capital.
As Ares completed a €325 mln French logistics acquisition from Blackstone, another French portfolio came onto the market.
