Global real estate investment manager Barings has sold four grocery retail assets in Barcelona to private equity fund MDSR Investments for an undisclosed sum.
With a combined gross leasable area (GLA) of 16,000 m2, the properties are fully let to French supermarket chain Carrefour.
The four assets are part of a portfolio of ten supermarkets acquired by Barings in December 2019.
As part of its pan-European strategy, Barings’ intention is to divest of the non-core assets in the mid-term, while focusing on core assets (logistics, offices and residential) and benefit from robust income streams in high street urban locations.
Gunther Deutsch, managing director, head of European real estate transactions at Barings said: ‘This transaction further builds our momentum in retail, having recently completed the sale of retail assets in Italy and Sweden, while we are considering acquisitions in food-led big box retail across our target jurisdictions of the Nordics, Netherlands, Germany, Italy, France and the UK alongside our preferred sectors.’
Annalaura Benedetti, country manager for Iberia for MDSR Investments, added: ‘This deal continues to strengthen our presence in the Spanish retail market, where we already have more than 60 assets. This operation seeks to strengthen the position of our group in the retail segment, and particularly in food, a strategy we started in 2017.’
Source: propertyeu.info on the 3rd of May