DJV advises Eroski on €85.5m supermarket portfolio sale

DJV Abogados has advised Spain´s Eroski on the sale & leaseback of 27 supermarkets to New York-based W.P. Carey for €85.5 million

US leading net lease REIT specialising in corporate sale-leasebacks and Spanish supermarket chain Eroski have announced a €85.5 million sale & leaseback agreement of a 27-property supermarket portfolio located in Northern Spain and the Balearic Islands, bringing total investment volume for the year-to-date period to approximately $700 million for the US company. The portfolio comprises a total of 45,000 square meters and is triple-net leased under three 20-year master leases to Eroski Sociedad Cooperativa, one of the largest food retailers in Spain.

DJV Abogados advised Eroski both on the due diligence phase and on the signing of the sale and purchase and long-term lease contracts with a Commercial team led by managing partner Pedro Navarrete (pictured left) and partner Javier Fernández (pictured centre), with the assistance of lawyers Alberto Suárez Tremon, Teresa Floristan, Javier Mediavilla and Beatriz Alonso. Partner Isaac Arroyo (pictured right) and lawyer Ana Luzón assisted with Real Estate matters.

W.P Carey was counselled by Linklaters, with a Real Estate team comprising counsel Aldolfo Guerrero and Gabriel Cabello, along with associate María de la Mata.

Desire Vidal