2 July 2019
LaSalle Investment Management announced that it had acquired a portfolio of six properties, all currently occupied by MAKRO Spain, from Metro Properties, as part of a sale-and-lease-back operation. The investment group acquired the portfolio on behalf of the French public pension scheme ERAFP for €73 million. Following the transaction, MAKRO Spain will remain the sole tenant of all six assets with a 15-year fixed lease term with extension options.
The six properties are located in Bilbao, Zaragoza, Badalona, Valencia, Alicante and Palma De Mallorca. Each constitutes the dominant wholesale store in its area. Makro mainly caters to buyers from the hotel, restaurant and catering sectors.
Original Story: Property Magazine International
Adaptation/Translation: Richard D. K. Turner