BayernLB Frankfurt has provided €35m loan for the acquisition of Pradera’s second Spanish grocery portfolio. The grocery stores, located in the urban centers of Vittoria and Leioa, are both let on long leases to Grupo Eroski, the leading grocery chain in the Basque region. Pradera arranged the acquisition of the portfolio on behalf of one of Universal-Investment’s Special (SIF) Funds.
Peter Davies, Fund Director at Pradera commented: "The financing of our second grocery portfolio on behalf of an institutional fund launched on the fund service platform of Universal-Investment further cements our relationship with BayernLB. We now have a substantial portfolio of grocery assets in northern Spain which have been financed by BayernLB and we look forward to continuing our relationship with them in Spain and other jurisdictions."
