Initially, the distribution giant presented a portfolio estimated at between €1.500 million and €2.000 million. After being assessed by consultant PwC, hired at the end of last year, the amount almost doubled.
The diversified portfolio presented by El Corte Inglés has 130 assets. In it are included shops, offices, terrains and even logistic centres at different locations which, according to El Confidencial, determine its liquidity.
More than half the assets are located in complex areas which, for that reason, have a smaller chance of being sold. Around 15% are located in intermediate areas and one third in privileged areas, which represent a higher liquidity.
This was the strategy found by El Corte Inglés to face the group’s debt which in 2017 alone rose to €3.8 billion.