According to Spanish Real Estate, the deal, which totalled 30 million de euros, is the sixth carried out by the fund since its entry into Spain a year and a half ago. Annalaura Benedetti, in charge of MDSR in Spain comments that “this deal strengthens our confidence in the Spanish market, adding to the kinds of property in our portfolio”, quotes the same source. With this transaction, the value of MDSR’s assets is more than 140 million euros in the retail segment in Spain.
Located in distinct localities in Aragón, Cataluña, the Comunidad Valenciana and Murcia, three of the hypermarkets will be operated by the Carrefour brand, whilst the other two will continue under the management of Eroski.
Salvador González, Director of Investment at Retail at Savills explains that “this is not a typical sale & leaseback operation due to the singularities of the contract and the reduced remaining mandatory requirements.”