Spain

Merlin Properties sells a portfolio of 30 supermarkets for €110M

Merlin Properties sells a portfolio of 30 supermarkets for €110M

The portfolio is located entirely in Catalonia, and has a GLA of 55,388 square meters, so this operation represents the largest transaction of this type of asset in Spain during 2021.

With it, the volume of sale of assets of Merlin Properties throughout this year amounts to 227 million euros, exceeding the divestment plan planned for 2021, which is 150 million. In addition, sales have been made with a 5.7% average premium over the appraised value, including the supermarket portfolio, a commercial premises, a minority stake in a hotel, 3 non-strategic logistics assets, an office building in Madrid, a BBVA branch, two supermarkets and the stake in Aedas real estate.

For its part, Realty increases its commitment to supermarkets in Spain. In September, it first bought 7 Carrefour supermarkets with an investment of 93 million euros, in a sale-leaseback agreement. Less than a month later, Realty returned to shake the market, with the acquisition of three more Carrefour assets for 64 million. In this case, Carrefour Property was not the owner.

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