This portfolio is spread across several Spanish cities. 4 of these assets are located in Barcelona and 2 are located in Madrid. These six assets alone, have a total combined area of 38.800 sqm, revealed Spanish newspaper El Economista. Bilbao, Salamanca, Cadiz and Almería are the cities where the remaining 4 supermarkets are located.
For Barings, «this acquisition gives us a unique opportunity to access the Spanish food retail market with well-located assets leased to a consolidated operator with long-term contracts», commented Real Estate Director Adolfo Favieres.
On this portfolio, Peter Collins, Kennedy Wilson Europe’s president advanced that «since acquiring the assets in 2015, we have worked towards strengthening its yield by improving Carrefour’s leasing terms».