4 October 2017 – Press Release
Eroski and Silicius Socimi, managed by Mazabi, have signed the sale of a property owned by the supermarket chain on Plaza Arroka, 2 in San Sebastián. The establishment, which operates under the Eroski City brand, will continue its normal activity under a lease arrangement.
“The operation forms part of our business plan, which involves divesting real estate assets to focus on our retail activity”, explained the Director of Property Development and Services at Eroski, Javier España.
The retail store has a surface area of almost 2,000 m2 and is located on the ground floor of a building inside the new San Bartolomé Muinoa urban development (…).
The operation fits within the Socimi’s new growth phase. Silicius plans to invest up to €300 million in these types of assets over the coming months. Currently, the firm owns assets worth €120 million, which generate annual rental income of €6 million (…).
Silicius is a Socimi, managed by Mazabi, specialising in the purchase and active management of rental assets that generate stable long-term rental income for its shareholders to provide them with an annual dividend (…).
Eroski is the largest cooperative distribution group in Spain and is a leading player in the regions of Galicia, País Vasco, Navarra, Cataluña and the Balearic Islands. It has a commercial network of 1,784 establishments, more than 6 million customers and more than 32,000 cooperative partners and employees.
Original story: Press Release
Translation: Carmel Drake