Fund V closed at the beginning of January with a final capital of €489 million, has acquired the gas stations portfolio to a fund managed by AXA IM Real Assets. The amount of the transaction has not been revealed.
All service stations are operational according to long-term lease agreements with the Eroski (15) and Carrefour (4) chains and located in areas near shopping centers or hypermarkets.
Brian Betel, managing partner of ASG Iberia Advisors, stated that "this operation demonstrates the advantage predicted for the funds that we manage to have a local team highly experienced in Spain, capable of identify opportunities of great interest. Our knowledge about this type of assets has allowed us to act quickly to undertake this investment. Since we opened our office in Madrid four years ago, we have progressively expanded our portfolio of assets under management in Spain: from more conventional sectors such as offices, retail, hotels and residential, to alternative assets, to which the operation we are announcing today refers”.
