Sonae Sierra has acquired, through the Hahn Sierra Food Retail Fonds, a portfolio of nine Mercadona supermarkets located in Catalonia, Aragon, Andalusia, Asturias, Navarre and Extremadura.
The transaction, advised by Savills, was completed with MDSR as the seller and comprises more than 15,000 sqm of retail space.
The assets are let on long-term leases to Mercadona and offer diversified exposure across geographical regions and catchment areas, at a time when the food retail sector continues to attract institutional investment due to the stability of its income and the resilience of demand compared to other retail formats.
Salvador González, national director of retail investment at Savills, noted that interest in shopping centres has not displaced the food retail sector, as core supermarkets remain among the assets most sought after by institutional investors due to the quality of their rental income and their performance in times of economic uncertainty.
EY advised Sonae Sierra on the legal aspects of the transaction, while Eversheds Sutherland advised the seller.
