Savills advises MDSR on €150m acquisition of Spanish hypermarket portfolio

International real estate advisor Savills has advised the fund MDSR Investments on the acquisition of its second portfolio of hypermarkets in Spain, for a total value of almost €150 million. Sold by Tristan Capital, this deal represents the largest transaction of hypermarkets and commercial galleries this year.

The portfolio comprises a gross leasable area of 86,836 sq m and the seven hypermarkets are located in Segovia, Jaca, Fuengirola, San Javier, Tomelloso, San Sebastián, and Ribadeo. The first four are operated by Carrefour and the rest are let to Spanish supermarket chain Eroski.

Annalaura Benedetti, Head of MDSR in Spain comments: “This transaction emphasizes our strong belief in the economic growth fundamentals of the Spanish market. Following our acquisition of five hypermarkets at the start of the year, this deal increases the geographical diversity of our portfolio and further strengthens our position in the Spanish market.”

Salvador González, Director of Retail Investment, Savills Spain, adds: “This portfolio offered MDSR great geographical diversity of product plus the added bonus of assets let to global operator Carrefour. In addition, Eroski’s financial performance is very much improving, making this an altogether attractive acquisition for the Israeli investment group.”

With this transaction, the value of MDSR’s assets is close to €300 million in the Spanish retail sector, split across retail parks, shopping centres and hypermarkets, having shifted from a ‘value add’ profile to a medium to long term position.

-Ends-