The properties were built in 1991 at 153 La Albufera Ave. Retail center tenants include Zara, Menaje del Hogar, Stradivarius, Burger King, Pull & Bear, Oysho and Fitness First. Office tenants include Prosegur, Uralita, Viajes Barceló and Henry Schein Spain. A source with GE could not be reached Monday for comment on the occupancy of the properties.

Clifford Change (legal), Gleeds (technical), ERM (environmental) and Ernst & Young (revenue audit) advised GE Real Estate. After the completion of the transaction, property consultants Knight Frank will take on the management of both assets.

In February, the National Statistics Institute reported that Spain's economy continued to grow strongly in the fourth quarter of 2005. With strong internal demand compensating for weak exports, the country's gross domestic product expanded in the fourth quarter at an annual rate of 3.5% and at a monthly rate of 0.9%, according to the institute. For the full-year 2005, Spain's GDP rose 3.4%.