Share: Share with Email

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

Jenny Pizarro • 03/11/2020

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.


MEDIA CONTACT

Jenny Pizarro
Jenny Pizarro

Partner, Head of Business Development • Barcelona

MORE Insight

Global MarketBeat Report Map
MarketBeat • Insights

Spain Marketbeats

Cushman & Wakefield MarketBeat reports analyse quarterly Spain commercial property activity across office, retail and industrial real estate sectors including supply, demand and pricing trends at the market and submarket levels..
Marta Esclapés • 23/04/2021
10 key learnings (image)
Research • Workplace

10 Key Learnings and What They Mean for Real Estate

It’s likely a fool’s errand to try to wrap all the complexities, shifts, challenges and surprises of 2020 into a meaningful summary. However, throughout the year, our team did uncover and analyze major trends and key learnings that emerged for the real estate industry.
Kevin Thorpe • 02/03/2021
New Perspectives (image)
Research • Topical Report

New Perspective: From Pandemic to Performance

As a global leader in the commercial real estate (CRE) industry, Cushman & Wakefield offers clients a new perspective on COVID-19’s impact on CRE and beyond, preparing them for what’s next.
23/02/2021

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.