PropertyEU - February 26, 2010
Spanish supermarket group Eroski is near to concluding further sale-and-leaseback transactions of property assets following on from the recent EUR 74 mln disposal of supermarkets to US investor WP Carey, PropertyEU has learned.
Cushman & Wakefield, which is advising Eroski, confirmed that several transactions are in due diligence but it would not comment on the size of the potential deals or provide further details. Rupert Lea, a partner in C&W's Madrid office, said, however, that the players in the prospective deals are international investors, but added that UK investment company Topland and WP Carey, the US sale-and-leaseback specialist, are not involved.
In early February WP Carey completed a two-stage sale-and-leaseback transaction with Eroski. The second tranche, totalling EUR 36 mln, was for the purchase of 16 retail facilities from the Spanish supermarket operator. The first tranche, totalling EUR 38 mln and comprising 13 sites, closed in December 2009. German lender Eurohypo provided financing for the deal.
Topland carried out a two-phase sale-and-leaseback with Eroski totalling about EUR 710 mln in late 2008 and early 2009.
Sphere: Related Content
Sunday, February 28, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment