Sonae Sierra, through the Hahn Sierra Food Retail Fonds fund, has closed the purchase of a portfolio consisting of nine supermarkets of the Mercadona chain spread across different areas of Spain, in a transaction in which Savills acted as advisor.
According to the consultancy, the package acquired from MDSR brings together more than 15,000 square meters of commercial space for sale, distributed among Catalonia, Aragon, Andalusia, Asturias, Navarre, and Extremadura, as Savills pointed out in a statement released this Tuesday.
In this regard, the firm has emphasized that the operation "reinforces the interest of institutional investors in the food sector in Spain, one of the most resilient segments of the commercial real estate market thanks to the solidity of its fundamentals and the stability of its income streams."
The portfolio is made up of nine properties leased long-term to the country's main food distribution chain, and provides "diversified exposure" both geographically and by commercial catchment areas.
The national director of retail investment at Savills, Salvador González, has stated that "the growing investor appetite for shopping centers has not detracted from the prominence of the food sector."
"Core supermarkets continue to be one of the most sought-after products by institutional investors, thanks to the high quality of their income and their ability to offer stability even in environments of greater economic uncertainty," he added.
Likewise, Savills has indicated that the consultancy EY provided legal advice to Sonae Sierra in the transaction, while Eversheeds Sutherland legally represented the seller.
With this purchase, Sonae Sierra continues to expand its position in the food business in Europe, reinforcing its commitment to "assets backed by leading operators and consolidated locations."