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Cushman & Wakefield advises on the sale of 27 of EROSKI group's supermarket properties


EROSKI and the international fund WP CAREY, have signed this morning the sale and purchase of twenty-seven supermarket properties of the distribution group, which will continue with their normal activity on a rental basis.

The portfolio has a total area of 45,000 square meters and the operation amounts to approximately 85.5 million euros. Of the twenty-seven assets, fourteen establishments are located in the Basque Country, nine stores are located in the Balearic Islands, three in Navarra and one in Cantabria.

The transaction consisted of a Sale & Leaseback operation, with EROSKI continuing to carry out its activity in these locations until at least 2040.

"This transaction does not only reflect the significant interest that currently exists for supermarkets amongst investors but also the confidence in the EROSKI brand and their financial standing. This is an important deal for the market, not only for the price achieved but also the speed with which it was closed. These are all mission critical locations for EROSKI and also sought after in the sector.” said Yola Camacho, Partner, Retail Investment in Cushman & Wakefield 

"This operation highlights the interest that EROSKI arouses in the financial market and demonstrates confidence in the soundness of our business project," explained EROSKI's Chief Financial Officer, José Ramón Anduaga.

“We are delighted to be able to work once again with EROSKI to be able to monetize this portfolio of high quality assets. We are a long-term investor who is always looking for the opportunity to support our tenants through deals like the one we are announcing, ” said Christopher Mertlitz, Chief Investment Officer of W. P. Carey.

Cushman & Wakefield and DJV lawyers have been commissioned to advise EROSKI and Linklaters attorneys and Advisian by WP Carey.


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