Rockspring buys 21 Spanish supermarkets through Savills (ES)

Rockspring, advised by Savills, has completed the purchase of 21 Eroski supermarkets through a sale and leaseback transaction. The purchase price was €45 million.


One of the 21 Eroski supermarkets purchased by Rockspring.

The deal marks Eroski Group's fourth sale and leaseback transaction this year following Rockspring's purchase of a further two units from Eroski in July, and prior to that AEW's acquisition of a hypermarket portfolio earlier in the year.

Luis Espadas, Head of Capital Markets at Savills Spain, says: "The properties benefit from being located in regions where Eroski is the dominant grocery retailer. Sale and leaseback transactions involving solid creditworthy tenants are still a favorite amongst investors who seek attractive returns with low risk, long leases with little management involved. We will probably see more transactions of this nature going through before the end of 2010."

Source: Savills

Related News