Transaction / AssetsPortfolio of Carrefour & Eroski Hypermarkets SellerTristan Capital BuyerMDSR Investments € MM150
MDSR Buys A Portfolio Of Hypermarkets For €150M
21 September 2017 – Expansión
The fund MDSR Investments has completed another purchase in Spain. The firm has acquired a portfolio of hypermarkets leased to Carrefour and Eroski, which were owned until now by Tristan Capital. The operation, which has been closed for a value of approximately €150 million, represents the largest transaction in Spain involving hypermarkets and shopping arcades so far this year.
The portfolio has a gross leasable area of 86,836 m2. Located in Segovia, Jaca, Fuengirola, San Javier, Tomelloso, San Sebastián and Ribadeo, the first four operate buildings under the Carrefour brand. Moreover, the operation also includes shopping arcades in Segovia, Jaca and Tomelloso.
This is the seventh operation to be undertaken by the firm, which is managed by an Israeli group and financed by US investors, since it arrived in Spain a year and a half ago. Moreover, it is the firm’s second transaction in recent months, given that, in March, it acquired a portfolio of five Eroski hypermarkets, owned until then by Joparny, for around €30 million.
In October 2016, MDSR Investments acquired the Travesía de Vigo shopping centre for €49 million.
In this operation, MDSR has been advised by Savills on the real estate side and Dentons for legal aspects; whilst Linklaters has advised the seller on the legal side.
Original story: Expansión (by Rocío Ruiz)
Translation: Carmel Drake