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