6 February 2018 – Eje Prime
Activum SG is backing alternative investments. The company, which operates in Spain under the name ASG, has acquired 19 gas stations in the north of Spain, which had been owned until now by Axa Real Estate.
The assets are located in areas adjacent to large shopping centres and hypermarkets and are linked to long-term lease contracts with Eroski and Carrefour. The purchase has been carried out through Fund V, which ASG has just closed and which forms part of its diversification strategy, according to El Confidencial.
In 2011, Axa Real Estate acquired a portfolio of 28 gas stations from Eroski for €55 million. Following that operation, the supermarket group continued its gas station activity on the basis of a 20-year rental regime.
ActivumSG is expanding rapidly in Spain. At the beginning of the year, the company announced the creation of a new €500 million fund for real estate investments across Europe, as Eje Prime revealed. Of those, three are located in the Spanish market.
Original story: Eje Prime
Translation: Carmel Drake