Spanish group GPF acquired a real estate portfolio with assets leased to groups such as Mercadona, Día and Lidl.
The operation was carried out through OMO Real Invest, a group specialised on this type of assets. GPF Capital committed to invest additional capital so as to accelerate OMO’s portfolio growth, a company generated by a project initiated several years ago by Juan Olivé and Javier Fernández. Both professionals have a wide experience in buying, managing and divesting mid-sized commercial assets.
The additional liquidity, will allow the company to execute a set of projects, which includes real estate developments for logistics, food, home and DIY or sports, all important segments which have shown great growth potential during the last few years.
According to financial sources GPF and OMO invested up to 100 million euro in developing stores. Its model consists in identifying possible sites for brands like Mercadona, Dia, Lidl and others, develop the location to their client’s needs and deliver key-in-hand, with a rental contract, and then rotate that asset.
GPF bets on a market niche which has shown its resilience during the pandemic
Retail and real estate are going through a change on which GPF decided to invest significantly. Last year, GPF purchased prime assets worth a total of 175 million euro. Those were iconic buildings, such as Edificio España and Edificio Axis, in Madrid. Two have unique locations and are able to host tenants who are seeking to establish their flagship stores.
OMO and GPF decided to bet on a market niche which has shown its resilience during the pandemic and enter the asset development and repositioning within the retail segment and in particular, the food segment. The supermarket segment reached new highs in 2020 with around 600 million euro, a number which largely surpassed previous years.