Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of a portfolio of ten supermarket assets across five Spanish regions, on behalf of a core investment strategy for institutional investors, from Kennedy Wilson for €73.4 million.
The portfolio, which comprises a total of c. 38,800 square meters, is fully let to Carrefour, one of the world’s largest food retailers which has traded in these premises for between 22 and 50 years.
The majority of the assets benefit from prime city centre locations and good public transport connections, with two situated in Madrid, four in Barcelona and the others in Bilbao, Salamanca, Cádiz and Almería. Six of the units also offer generous parking provision with a total of c. 1,120 spaces across the portfolio.
Source : Barings Real Estate