Tag: Makro

LaSalle Acquires Six Makro Stores for €73 Million

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

 

General Càrnia Invests €20M to Build a 11,000m2 Warehouse in Barcelona

21 March 2019 – Eje Prime

The meat retailer General Càrnia is investing €20 million in the construction of a building measuring 11,000 m2 on a plot that occupies the site of the former Makro store. The warehouse will be ready by the summer of 2020.

Mercabarna awarded the 20,500 m2 plot to General Càrnia for €4.7 million in 2017. The company has the right to operate the site for 20 years in exchange for the payment of an annual rental.

Original story: Eje Prime 

Translation: Carmel Drake

Riu Negotiates Sale of Retail Space in Edificio España to Corpfin

22 August 2018 – Eje Prime

Riu is taking action and, after falling out with Baraka, it now has a potential buyer for the retail space in Edificio España. The hotel chain is finalising the sale of this space in the property, which spans a surface area of 15,000 m2, to the Spanish Socimi Corpfin Capital.

On Tuesday, the Baraka Group announced that it is going to file a lawsuit against Riu for the hotel chain’s refusal to recognise in the deed the 15,000 m2 of retail space that had been promised to the company Baraka Renta following the sale of the building last year. Moreover, the real estate company has demanded that the renovation work on the building, which began in the autumn of 2017, be suspended.

Following the breakdown of the agreement, Riu is now finalising the sale to Corpfin, which, in the event that it goes ahead, will acquire an asset that will be worth €200 million once the renovation of the property has been completed, according to Expansión.

Corpfin Capital has been extremely active in recent months. Just a few weeks ago, the Socimi led by Ana Granado purchased two prime stores from El Corte Inglés in Madrid and Bilbao for €100 million, as reported by Eje Prime. Moreover, in the logistics sector, the company invested €8 million in the acquisition of an asset from Makro.

On the divestment side, in July, Corpfin completed the sale to the fund Swiss Life of thirteen retail premises for €83 million. That operation was carried out through the two Socimis that the company has listed on the Alternative Investment Market (MAB): Corpfin Capital Prime Retail II Socimi (Ccpr II) and Corpfin Capital Prime Retail III Socimi (Ccpr III).

Original story: Eje Prime 

Translation: Carmel Drake

Lasalle & Corpfin Buy 4 Assets from Makro for c. €100M

30 July 2018 – Eje Prime

Makro is lightening its property load. The food distribution group has sold four assets in Spain to Lasalle and Corpfin for almost €100 million. Specifically, the fund has acquired three of Makro’s centres in Madrid for €90 million, whilst Corpfin has purchased one asset in Madrid for €8 million, according to Expansión.

The company has sold to Lasalle the buildings in Barajas, Alcobendas and Paseo Imperial, all located in the Community of Madrid, in a sale and leaseback operation brokered by CBRE. Other distribution groups such as Inditex and El Corte Inglés have carried out similar operations over the last year.

On the other hand, Makro has sold 8,000 m2 of retail space, also in Madrid, to Corpfin for €8 million. That operation has been brokered by the consultancy firm Knight Frank.

Makro has 37 centres in Spain, which span a total commercial surface area of 241,744 m2. The chain belongs to the German group Metro, which operates in 35 countries around the world.

Original story: Eje Prime

Translation: Carmel Drake

Makro Puts 3 Centres in Madrid Up For Sale for €90M

12 April 2018 – Eje Prime

Makro wants to make cash in Madrid. The food wholesaler chain wants to get rid of three of the centres that it owns in the Spanish capital to raise €90 million. The intention of the company is to sell the assets under the sale & leaseback method, which means that the company would continue to occupy the premises as the tenant.

The three centres for sale are located in Barajas, Alcobendas and Paseo Imperial and will allow the company, which was founded in The Netherlands, to raise money to invest in the development of new projects. Currently, the company is owned by the German group Metro, which has already successfully signed operations of this kind in other markets, according to Expansión.

Makro has 37 centres in Spain located in fifteen autonomous regions. The food company’s list of customers exceeds 900,000 people and its total retail surface area across the country spans 241,744 m2.

This sale, under the sale & leaseback formula, is currently being used in the market by lots of operators. One example is Inditex, which sold 16 stores in Spain and Portugal under this method in January to the German investment fund Deka; it paid €400 million for the shops, some of which are located in prime locations in cities such as Madrid and Barcelona.

Original story: Eje Prime 

Translation: Carmel Drake

Mercabarna Awards Plot to General Càrnia for €4.7M

28 December 2017 – Eje Prime

Mercabarna has hung up the ‘no vacancy’ sign just before the end of 2017. The central Barcelona market has sold the only plot that was without an owner in the complex for €4.7 million. Until now, the hypermarket for Makro professionals was located on the plot.

The buyer, the meat company Companyia General Càrnia, has paid 30% more than the original asking price stipulated by Mercabarna for the warehouse. It was also the only firm that participated in the public tender, according to Expansión.

The awarded land spans a surface area of 20,420 m2 and houses a two-storey building. The meat company has the right to lease the asset for the next 20 years.

Original story: Eje Prime 

Translation: Carmel Drake