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Barings acquired 10 Carrefour supermarkets for €73M
16 January 2020 | Vanessa Sousa

American Barings keeps growing in Spain, in particular its retail portfolio. This week it closed the purchase of 10 Carrefour supermarkets from fund Kennedy Wilson, for a total 73.3 million euro.

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This portfolio is spread across several Spanish cities. 4 of these assets are located in Barcelona and 2 are located in Madrid. These six assets alone, have a total combined area of 38.800 sqm, revealed Spanish newspaper El Economista. Bilbao, Salamanca, Cadiz and Almería are the cities where the remaining 4 supermarkets are located.

For Barings, «this acquisition gives us a unique opportunity to access the Spanish food retail market with well-located assets leased to a consolidated operator with long-term contracts», commented Real Estate Director Adolfo Favieres.

On this portfolio, Peter Collins, Kennedy Wilson Europe’s president advanced that «since acquiring the assets in 2015, we have worked towards strengthening its yield by improving Carrefour’s leasing terms».