CMS advises Épargne Pierre Europe on Zaragoza buy
CMS Albiñana & Suárez de Lezo has advised SCPI Épargne Pierre Europe, a French real estate investment vehicle managed by Atland Voisin, on its acquisition of two logistics assets in the Zaragoza Logistics Platform (PLAZA). The assets were bought from ELF2 Zaragoza II Logistic and Xibopar for an aggregate price of about €51.4 million.
The transaction covers a 50,424 sqm logistics platform fully leased to Decathlon España and a 27,091 sqm logistics complex leased to Mercadona, Aerospace Cargo Logistics and Solavanti V. Both assets are in PLAZA, a logistics hub in Aragón. The deal was structured as an asset deal.
CMS carried out the legal due diligence and negotiated and formalised the sale and purchase documentation. It also designed and executed a complex closing mechanism. This involved the simultaneous cancellation of existing financial charges and the transfer of the lease agreements, guarantees and other rights linked to the assets. The structure was intended to keep the tenants operating without interruption and to secure stable long-term rental income.
The team
The transaction was led by Real Estate partner Álvaro Otero. He was supported by senior associate Nerea Sanz, associate Ana Parejo and lawyer Sibylla Cacheiro.
